Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,974,010 shares of the software maker's stock after selling 43,090 shares during the quarter. T. Rowe Price Investment Management Inc. owned 7.13% of Paylocity worth $792,696,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Paylocity in the 4th quarter valued at $29,000. UMB Bank n.a. grew its position in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock worth $77,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Needham & Company LLC increased their target price on Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. Barclays decreased their price objective on Paylocity from $231.00 to $204.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. UBS Group increased their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. JMP Securities raised their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $226.47.

Paylocity Trading Down 1.5 %

Shares of PCTY traded down $2.83 during trading on Monday, reaching $188.28. 157,062 shares of the company traded hands, compared to its average volume of 478,894. The stock has a 50-day simple moving average of $190.56 and a 200-day simple moving average of $195.73. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The stock has a market cap of $10.52 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 21.91% of the company's stock.

About Paylocity

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.