Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,187 shares of the software maker’s stock after selling 2,855 shares during the quarter. Wellington Management Group LLP’s holdings in Paylocity were worth $2,214,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PCTY. RiverPark Advisors LLC acquired a new position in Paylocity in the third quarter worth approximately $43,000. Advisors Asset Management Inc. grew its position in Paylocity by 89.6% in the third quarter. Advisors Asset Management Inc. now owns 237 shares of the software maker’s stock worth $43,000 after buying an additional 112 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Paylocity in the fourth quarter worth approximately $44,000. Benjamin Edwards Inc. acquired a new position in Paylocity in the second quarter worth approximately $47,000. Finally, UniSuper Management Pty Ltd acquired a new position in Paylocity in the second quarter worth approximately $55,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PCTY. Mizuho decreased their price objective on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $180.00 price objective (down previously from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Truist Financial decreased their price objective on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Citigroup raised their price objective on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, January 22nd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $207.47.

Insider Transactions at Paylocity

In other news, SVP Katherine Ross sold 491 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total transaction of $82,630.39. Following the transaction, the senior vice president now owns 15,353 shares in the company, valued at approximately $2,583,756.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Jeffrey T. Diehl sold 20,032 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the sale, the director now owns 16,391 shares of the company’s stock, valued at $2,762,703.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine Ross sold 491 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total transaction of $82,630.39. Following the completion of the sale, the senior vice president now directly owns 15,353 shares in the company, valued at approximately $2,583,756.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,947 shares of company stock worth $9,585,217. 22.50% of the stock is currently owned by company insiders.

Paylocity Trading Up 1.1 %

PCTY stock opened at $173.29 on Thursday. Paylocity Holding Co. has a 1 year low of $139.40 and a 1 year high of $230.52. The company has a fifty day simple moving average of $166.81 and a 200 day simple moving average of $168.58. The firm has a market cap of $9.76 billion, a PE ratio of 58.54, a PEG ratio of 3.70 and a beta of 0.87.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The firm had revenue of $326.36 million for the quarter, compared to the consensus estimate of $324.34 million. As a group, analysts forecast that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Paylocity Profile

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.