Wells Fargo & Company MN decreased its position in Paylocity Holding Corp (NASDAQ:PCTY) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,444,103 shares of the software maker’s stock after selling 219,917 shares during the period. Wells Fargo & Company MN owned about 2.75% of Paylocity worth $70,501,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its holdings in shares of Paylocity by 22.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock valued at $103,000 after acquiring an additional 421 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Paylocity by 562.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock valued at $149,000 after acquiring an additional 2,796 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Paylocity by 1.2% in the second quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock valued at $154,000 after acquiring an additional 42 shares in the last quarter. Turner Investments LLC purchased a new stake in shares of Paylocity in the second quarter valued at about $158,000. Finally, Nomura Holdings Inc. purchased a new stake in Paylocity during the second quarter worth about $208,000. 59.84% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Holding Corp (NASDAQ:PCTY) opened at $44.89 on Thursday. The stock has a market cap of $2,351.70, a PE ratio of 203.54, a price-to-earnings-growth ratio of 5.88 and a beta of 2.11. Paylocity Holding Corp has a 52-week low of $29.69 and a 52-week high of $53.96.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. The company had revenue of $81.50 million during the quarter, compared to analysts’ expectations of $80.88 million. Paylocity had a net margin of 3.11% and a return on equity of 7.98%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. research analysts forecast that Paylocity Holding Corp will post 0.32 earnings per share for the current fiscal year.

A number of analysts recently commented on PCTY shares. Raymond James Financial set a $55.00 price objective on shares of Paylocity and gave the stock a “buy” rating in a report on Wednesday, August 9th. Mizuho reissued a “hold” rating and set a $45.00 price objective on shares of Paylocity in a report on Thursday, August 10th. Bank of America reissued a “buy” rating and set a $47.00 price objective (down previously from $50.00) on shares of Paylocity in a report on Friday, August 11th. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price objective (up previously from $50.00) on shares of Paylocity in a report on Friday, August 11th. Finally, ValuEngine raised shares of Paylocity from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.92.

In other news, Director Steven I. Sarowitz sold 1,296,142 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $46.14, for a total value of $59,803,991.88. Following the completion of the transaction, the director now owns 15,343,130 shares of the company’s stock, valued at $707,932,018.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Edward W. Gaty sold 5,062 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $45.82, for a total transaction of $231,940.84. Following the completion of the transaction, the senior vice president now directly owns 116,135 shares of the company’s stock, valued at approximately $5,321,305.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,429,734 shares of company stock valued at $66,231,695. 48.80% of the stock is currently owned by company insiders.

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About Paylocity

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.

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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