Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,517 shares of the software maker’s stock after selling 282 shares during the period. Bank of Montreal Can’s holdings in Paylocity were worth $3,694,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FMR LLC lifted its holdings in shares of Paylocity by 138.5% during the fourth quarter. FMR LLC now owns 650,599 shares of the software maker’s stock valued at $129,775,000 after purchasing an additional 377,835 shares during the last quarter. Federated Hermes Inc. lifted its stake in Paylocity by 7.6% during the fourth quarter. Federated Hermes Inc. now owns 4,955 shares of the software maker’s stock valued at $988,000 after buying an additional 348 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Paylocity by 7.1% in the fourth quarter. Russell Investments Group Ltd. now owns 34,625 shares of the software maker’s stock worth $6,907,000 after buying an additional 2,308 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Paylocity by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 130,947 shares of the software maker’s stock worth $26,120,000 after acquiring an additional 3,104 shares in the last quarter. Finally, ExodusPoint Capital Management LP raised its holdings in shares of Paylocity by 470.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 16,101 shares of the software maker’s stock valued at $3,212,000 after acquiring an additional 13,280 shares during the period. 94.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PCTY has been the topic of several research analyst reports. Needham & Company LLC lifted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Raymond James reissued an “outperform” rating and set a $265.00 price target (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Stifel Nicolaus upped their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, JMP Securities raised their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $232.31.

Paylocity Price Performance

NASDAQ PCTY opened at $186.75 on Wednesday. The firm has a market cap of $10.44 billion, a P/E ratio of 47.88, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The stock’s 50-day moving average is $195.20 and its two-hundred day moving average is $194.43. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 23,243 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares of the company’s stock, valued at approximately $89,856,332. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 21.91% of the company’s stock.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.