Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,779 shares of the software maker’s stock after selling 185 shares during the period. Federated Hermes Inc.’s holdings in Paylocity were worth $630,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PCTY. Capital International Investors increased its holdings in Paylocity by 119.0% in the 4th quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock valued at $199,637,000 after purchasing an additional 658,057 shares during the last quarter. Wasatch Advisors LP increased its holdings in Paylocity by 35.0% in the 1st quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock valued at $411,895,000 after purchasing an additional 621,946 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Paylocity by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares during the last quarter. Capital Research Global Investors acquired a new stake in Paylocity in the 1st quarter valued at approximately $46,902,000. Finally, Owls Nest Partners IA LLC acquired a new stake in Paylocity in the 4th quarter valued at approximately $29,038,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PCTY. Barclays dropped their price target on shares of Paylocity from $160.00 to $156.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Robert W. Baird dropped their price target on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Truist Financial dropped their price target on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. TD Cowen dropped their price target on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Finally, JMP Securities restated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average price target of $179.13.

Insider Activity

In other news, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the sale, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the sale, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The disclosure for this sale can be found here. Corporate insiders own 22.50% of the company’s stock.

Paylocity Price Performance

Shares of PCTY opened at $162.58 on Monday. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $206.28. The stock has a market cap of $9.17 billion, a PE ratio of 47.26, a price-to-earnings-growth ratio of 3.80 and a beta of 0.94. The firm has a fifty day moving average price of $154.14 and a 200 day moving average price of $154.68.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The firm had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $350.29 million. During the same period in the previous year, the company earned $0.76 earnings per share. Paylocity’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts expect that Paylocity Holding Co. will post 4.51 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.