Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,737 shares of the software maker’s stock after selling 1,131 shares during the period. Asset Management One Co. Ltd.’s holdings in Paylocity were worth $2,799,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PCTY. HighTower Advisors LLC boosted its holdings in Paylocity by 12.9% in the first quarter. HighTower Advisors LLC now owns 5,798 shares of the software maker’s stock valued at $1,172,000 after acquiring an additional 664 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Paylocity in the 1st quarter valued at about $14,007,000. Sei Investments Co. grew its holdings in shares of Paylocity by 1.3% during the 1st quarter. Sei Investments Co. now owns 66,053 shares of the software maker’s stock worth $13,594,000 after purchasing an additional 876 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Paylocity during the 1st quarter worth approximately $144,000. Finally, Covestor Ltd raised its holdings in Paylocity by 88.1% in the first quarter. Covestor Ltd now owns 331 shares of the software maker’s stock valued at $68,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

PCTY opened at $168.07 on Friday. Paylocity Holding Co. has a 1-year low of $139.40 and a 1-year high of $230.52. The company has a 50-day moving average of $169.35 and a 200-day moving average of $167.21. The company has a market capitalization of $9.47 billion, a P/E ratio of 56.78, a PEG ratio of 3.67 and a beta of 0.87.

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

Insider Buying and Selling at Paylocity

In related news, CEO Steven R. Beauchamp sold 7,760 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the completion of the transaction, the chief executive officer now owns 1,746,468 shares in the company, valued at approximately $291,572,832.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the sale, the director now owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven R. Beauchamp sold 7,760 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $166.95, for a total value of $1,295,532.00. Following the transaction, the chief executive officer now owns 1,746,468 shares of the company’s stock, valued at $291,572,832.60. The disclosure for this sale can be found here. Insiders sold a total of 54,547 shares of company stock worth $9,356,359 over the last ninety days. Company insiders own 22.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PCTY. Jefferies Financial Group reissued a “hold” rating and issued a $180.00 price objective (down previously from $240.00) on shares of Paylocity in a research report on Friday, January 5th. Needham & Company LLC restated a “buy” rating and set a $200.00 price objective on shares of Paylocity in a research note on Friday, February 9th. KeyCorp decreased their target price on Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. BTIG Research initiated coverage on Paylocity in a report on Tuesday, February 6th. They set a “buy” rating and a $200.00 target price on the stock. Finally, Citigroup upped their price target on Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

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.