Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Assetmark Inc.

Assetmark Inc. lessened its holdings in Paylocity Holding Co. (NASDAQ:PCTYGet Rating) by 22.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 263 shares of the software maker’s stock after selling 77 shares during the period. Assetmark Inc.’s holdings in Paylocity were worth $64,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Paylocity by 11.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,778,582 shares of the software maker’s stock worth $1,705,580,000 after purchasing an additional 1,003,092 shares during the period. Invesco Ltd. lifted its holdings in shares of Paylocity by 20.7% during the first quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker’s stock worth $284,399,000 after purchasing an additional 236,876 shares during the period. TD Asset Management Inc. raised its position in Paylocity by 26.4% during the second quarter. TD Asset Management Inc. now owns 350,168 shares of the software maker’s stock valued at $61,076,000 after acquiring an additional 73,200 shares in the last quarter. Riverbridge Partners LLC raised its position in Paylocity by 9.7% during the third quarter. Riverbridge Partners LLC now owns 771,722 shares of the software maker’s stock valued at $186,433,000 after acquiring an additional 68,410 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Paylocity during the first quarter valued at approximately $14,007,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup reduced their price target on Paylocity from $294.00 to $255.00 in a research report on Friday, October 21st. KeyCorp reduced their price target on Paylocity from $310.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. StockNews.com initiated coverage on Paylocity in a research report on Wednesday, October 12th. They set a “hold” rating for the company. DA Davidson cut Paylocity from a “buy” rating to a “neutral” rating and set a $250.00 price objective for the company. in a research report on Friday, October 28th. Finally, Piper Sandler boosted their price objective on Paylocity from $269.00 to $276.00 and gave the company an “overweight” rating in a research report on Friday, November 4th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $259.00.

Paylocity Stock Performance

NASDAQ PCTY opened at $200.57 on Friday. The stock’s fifty day moving average is $201.48 and its two-hundred day moving average is $219.56. The firm has a market capitalization of $11.17 billion, a P/E ratio of 125.36 and a beta of 1.09. Paylocity Holding Co. has a fifty-two week low of $152.01 and a fifty-two week high of $276.88.

Paylocity (NASDAQ:PCTYGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The software maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.37. The company had revenue of $253.28 million for the quarter, compared to analyst estimates of $239.86 million. Paylocity had a return on equity of 19.27% and a net margin of 9.76%. As a group, sell-side analysts forecast that Paylocity Holding Co. will post 1.92 EPS for the current year.

Paylocity Profile

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Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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