Moody National Bank Trust Division Sells 650 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Moody National Bank Trust Division trimmed its position in Paylocity Holding Co. (NASDAQ:PCTY) by 11.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,950 shares of the software maker’s stock after selling 650 shares during the period. Moody National Bank Trust Division’s holdings in Paylocity were worth $913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PCTY. EMC Capital Management acquired a new position in Paylocity during the 4th quarter worth approximately $29,000. Belpointe Asset Management LLC bought a new stake in shares of Paylocity in the fourth quarter worth $33,000. Harvest Fund Management Co. Ltd acquired a new position in Paylocity during the first quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Paylocity by 135.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 174 shares of the software maker’s stock valued at $35,000 after purchasing an additional 100 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Paylocity in the 4th quarter valued at $44,000. 73.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Paylocity

In related news, Director Jeffrey T. Diehl sold 3,743 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $195.26, for a total value of $730,858.18. Following the transaction, the director now directly owns 16,993 shares in the company, valued at $3,318,053.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Paylocity news, Director Steven I. Sarowitz sold 61,763 shares of Paylocity stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $201.28, for a total value of $12,431,656.64. Following the completion of the transaction, the director now directly owns 9,784,126 shares of the company’s stock, valued at approximately $1,969,348,881.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Diehl sold 3,743 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $195.26, for a total value of $730,858.18. Following the sale, the director now directly owns 16,993 shares in the company, valued at $3,318,053.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 174,074 shares of company stock valued at $34,320,823. 26.50% of the stock is currently owned by corporate insiders.

Paylocity Stock Performance

Shares of PCTY opened at $192.94 on Friday. The firm’s 50-day simple moving average is $205.88 and its 200 day simple moving average is $191.23. The firm has a market cap of $10.79 billion, a P/E ratio of 77.18 and a beta of 1.09. Paylocity Holding Co. has a 52 week low of $160.00 and a 52 week high of $269.34.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 3rd. The software maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.15. The company had revenue of $308.45 million for the quarter, compared to analyst estimates of $301.43 million. Paylocity had a return on equity of 21.89% and a net margin of 11.99%. As a group, equities analysts forecast that Paylocity Holding Co. will post 3.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PCTY shares. Barclays increased their price objective on shares of Paylocity from $204.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Credit Suisse Group restated a “neutral” rating and issued a $215.00 price target on shares of Paylocity in a research note on Friday, August 4th. BMO Capital Markets upped their price objective on Paylocity from $230.00 to $246.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Citigroup increased their price objective on Paylocity from $219.00 to $253.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Finally, Mizuho restated a “neutral” rating and set a $225.00 target price on shares of Paylocity in a report on Wednesday, August 23rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and an average price target of $260.79.

About Paylocity

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.