Alliancebernstein L.P. Reduces Position in Paylocity Holding Corporation (PCTY)
Alliancebernstein L.P. decreased its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 611,484 shares of the software maker’s stock after selling 6,236 shares during the period. Alliancebernstein L.P. owned about 1.19% of Paylocity Holding Corporation worth $27,627,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. State of Wisconsin Investment Board bought a new position in Paylocity Holding Corporation in the 2nd quarter valued at approximately $3,660,000. Chicago Equity Partners LLC bought a new position in Paylocity Holding Corporation in the 2nd quarter valued at approximately $1,129,000. Massachusetts Financial Services Co. MA lifted its stake in Paylocity Holding Corporation by 20.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 490,959 shares of the software maker’s stock valued at $18,966,000 after purchasing an additional 83,478 shares during the last quarter. Bank of America Corp DE lifted its stake in Paylocity Holding Corporation by 13.4% in the 1st quarter. Bank of America Corp DE now owns 131,015 shares of the software maker’s stock valued at $5,062,000 after purchasing an additional 15,504 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Paylocity Holding Corporation by 54.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 49,432 shares of the software maker’s stock valued at $1,910,000 after purchasing an additional 17,364 shares during the last quarter. 60.87% of the stock is owned by institutional investors and hedge funds.
Paylocity Holding Corporation (PCTY) opened at 47.18 on Wednesday. The firm has a 50-day moving average of $46.35 and a 200 day moving average of $43.71. The firm has a market capitalization of $2.44 billion, a PE ratio of 393.17 and a beta of 2.25. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $49.65.
Paylocity Holding Corporation (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. The firm had revenue of $76.10 million during the quarter, compared to analyst estimates of $73.79 million. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.13%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) EPS. Equities research analysts forecast that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
PCTY has been the subject of several research reports. Royal Bank Of Canada increased their price objective on shares of Paylocity Holding Corporation from $47.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Needham & Company LLC increased their price objective on shares of Paylocity Holding Corporation from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. ValuEngine raised shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on shares of Paylocity Holding Corporation in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Paylocity Holding Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $51.46.
In other news, Director Jeffrey T. Diehl sold 1,155,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $45.00, for a total value of $51,975,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Edward W. Gaty sold 5,185 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $48.92, for a total transaction of $253,650.20. Following the completion of the sale, the senior vice president now owns 116,135 shares of the company’s stock, valued at $5,681,324.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,510,185 shares of company stock valued at $68,035,096. Company insiders own 53.10% of the company’s stock.
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Paylocity Holding Corporation Profile
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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