Point72 Hong Kong Ltd Has $241,000 Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Point72 Hong Kong Ltd lowered its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 74.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,210 shares of the software maker's stock after selling 3,490 shares during the period. Point72 Hong Kong Ltd's holdings in Paylocity were worth $241,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in PCTY. Vanguard Group Inc. lifted its position in Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock valued at $803,745,000 after acquiring an additional 46,183 shares during the period. Invesco Ltd. raised its holdings in shares of Paylocity by 31.7% during the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after purchasing an additional 320,319 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Paylocity by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock valued at $214,275,000 after purchasing an additional 25,182 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Paylocity by 0.8% during the fourth quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock valued at $172,300,000 after buying an additional 7,251 shares during the last quarter. Finally, FMR LLC increased its holdings in Paylocity by 138.5% during the fourth quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after buying an additional 377,835 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Paylocity Price Performance

PCTY traded down $0.13 on Thursday, reaching $196.42. The company had a trading volume of 79,729 shares, compared to its average volume of 461,139. The company has a fifty day moving average of $189.15 and a 200-day moving average of $197.92. The company has a market capitalization of $10.85 billion, a P/E ratio of 50.40, a PEG ratio of 4.49 and a beta of 0.58. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The company had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. During the same period in the prior year, the company earned $2.21 EPS. Paylocity's revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now owns 420,000 shares of the company's stock, valued at approximately $81,862,200. The trade was a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.91% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities restated a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a research report on Tuesday, April 29th. Stifel Nicolaus dropped their price objective on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Raymond James reaffirmed an "outperform" rating and set a $235.00 target price (down from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. KeyCorp cut their target price on Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Mizuho decreased their price objective on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $223.00.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.