Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTYFree Report) by 9.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 123,816 shares of the software maker’s stock after selling 12,358 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.22% of Paylocity worth $20,411,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PCTY. Allspring Global Investments Holdings LLC acquired a new stake in shares of Paylocity in the fourth quarter valued at $82,172,000. Liontrust Investment Partners LLP bought a new position in shares of Paylocity in the third quarter valued at $90,181,000. Clearbridge Investments LLC lifted its position in shares of Paylocity by 2,212.5% during the 4th quarter. Clearbridge Investments LLC now owns 381,952 shares of the software maker’s stock valued at $62,965,000 after acquiring an additional 365,435 shares during the last quarter. Comerica Bank bought a new stake in shares of Paylocity during the 3rd quarter worth $18,506,000. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Paylocity by 26.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock worth $85,856,000 after acquiring an additional 99,781 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at Paylocity

In other news, Director Jeffrey T. Diehl sold 20,032 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 16,391 shares in the company, valued at $2,762,703.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the sale, the director now owns 14,704 shares in the company, valued at approximately $2,523,794.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Diehl sold 20,032 shares of Paylocity stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the transaction, the director now directly owns 16,391 shares in the company, valued at $2,762,703.05. The disclosure for this sale can be found here. Corporate insiders own 22.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PCTY. Truist Financial reduced their target price on Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 9th. Piper Sandler decreased their target price on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Mizuho cut their price target on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Needham & Company LLC restated a “buy” rating and issued a $200.00 price target on shares of Paylocity in a research report on Friday, May 3rd. Finally, Barclays lifted their price objective on shares of Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.69.

Check Out Our Latest Stock Analysis on Paylocity

Paylocity Stock Performance

NASDAQ:PCTY opened at $138.53 on Thursday. The stock’s 50 day moving average price is $161.27 and its 200 day moving average price is $162.30. Paylocity Holding Co. has a 52 week low of $135.76 and a 52 week high of $230.52. The company has a market capitalization of $7.82 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.56 and a beta of 0.89.

Paylocity (NASDAQ:PCTYGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.29. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The company had revenue of $401.28 million during the quarter, compared to the consensus estimate of $396.93 million. As a group, sell-side analysts forecast that Paylocity Holding Co. will post 3.95 earnings per share for the current fiscal year.

About Paylocity

(Free Report)

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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