Citigroup Inc. Has $4.70 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Citigroup Inc. grew its position in shares of Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,209 shares of the software maker’s stock after buying an additional 610 shares during the quarter. Citigroup Inc.’s holdings in Paylocity were worth $4,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Paylocity by 21.3% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 13,818 shares of the software maker’s stock valued at $2,684,000 after buying an additional 2,430 shares during the last quarter. Prudential PLC acquired a new stake in shares of Paylocity during the 4th quarter valued at about $450,000. Belpointe Asset Management LLC acquired a new stake in shares of Paylocity during the 4th quarter valued at about $33,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Paylocity during the 4th quarter valued at about $154,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Paylocity during the 4th quarter valued at about $1,636,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Up 0.2 %

PCTY opened at $173.77 on Friday. The stock has a market cap of $9.70 billion, a PE ratio of 82.36 and a beta of 1.08. Paylocity Holding Co. has a 1 year low of $152.01 and a 1 year high of $276.88. The stock’s 50 day simple moving average is $184.20 and its 200-day simple moving average is $196.73.

Paylocity (NASDAQ:PCTY – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The software maker reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.18. The business had revenue of $339.86 million for the quarter, compared to analysts’ expectations of $332.79 million. Paylocity had a return on equity of 20.23% and a net margin of 10.84%. Equities analysts forecast that Paylocity Holding Co. will post 2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Robert W. Baird reduced their target price on Paylocity from $311.00 to $280.00 in a report on Friday, May 5th. Cowen boosted their target price on Paylocity from $231.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. DA Davidson upgraded Paylocity from a “neutral” rating to a “buy” rating and set a $245.00 target price for the company in a report on Thursday, March 30th. They noted that the move was a valuation call. Truist Financial reduced their target price on Paylocity from $285.00 to $250.00 in a report on Friday, May 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Paylocity in a report on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.33.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 59,053 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $203.83, for a total value of $12,036,772.99. Following the sale, the director now directly owns 10,438,370 shares in the company, valued at $2,127,652,957.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Paylocity news, Director Steven I. Sarowitz sold 59,053 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $203.83, for a total value of $12,036,772.99. Following the sale, the director now directly owns 10,438,370 shares in the company, valued at $2,127,652,957.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven I. Sarowitz sold 32,689 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $187.60, for a total value of $6,132,456.40. Following the completion of the sale, the director now owns 10,309,423 shares in the company, valued at $1,934,047,754.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,295 shares of company stock worth $26,828,122. Company insiders own 26.50% of the company’s stock.

Paylocity Company Profile

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Paylocity Holding Corp. engages in the development and provision of cloud-based software solutions. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded by Steve I. Sarowitz in 1997 and is headquartered in Schaumburg, IL.