Sei Investments Co. lessened its position in Paylocity Holding Corp (NASDAQ:PCTY) by 2.5% in the 2nd quarter, Holdings Channel reports. The fund owned 79,841 shares of the software maker’s stock after selling 2,058 shares during the period. Sei Investments Co.’s holdings in Paylocity were worth $4,699,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PCTY. Wasatch Advisors Inc. increased its stake in Paylocity by 61.1% in the 1st quarter. Wasatch Advisors Inc. now owns 1,727,257 shares of the software maker’s stock worth $88,487,000 after buying an additional 655,314 shares during the period. Zevenbergen Capital Investments LLC purchased a new position in Paylocity in the 1st quarter worth about $30,851,000. Royal Bank of Canada increased its stake in Paylocity by 46.2% in the 1st quarter. Royal Bank of Canada now owns 870,958 shares of the software maker’s stock worth $44,620,000 after buying an additional 275,364 shares during the period. Riverbridge Partners LLC increased its stake in Paylocity by 36.5% in the 2nd quarter. Riverbridge Partners LLC now owns 951,801 shares of the software maker’s stock worth $56,023,000 after buying an additional 254,392 shares during the period. Finally, Federated Investors Inc. PA increased its stake in Paylocity by 592.7% in the 1st quarter. Federated Investors Inc. PA now owns 170,567 shares of the software maker’s stock worth $8,738,000 after buying an additional 145,944 shares during the period. 65.40% of the stock is currently owned by institutional investors.

NASDAQ PCTY opened at $77.73 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 250.74, a price-to-earnings-growth ratio of 4.59 and a beta of 1.94. Paylocity Holding Corp has a one year low of $41.15 and a one year high of $78.30.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, August 9th. The software maker reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $96.62 million for the quarter, compared to analysts’ expectations of $93.33 million. Paylocity had a net margin of 10.22% and a return on equity of 12.44%. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. equities research analysts expect that Paylocity Holding Corp will post 0.75 EPS for the current year.

In other Paylocity news, SVP Mark S. Kinsey sold 386 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $66.65, for a total transaction of $25,726.90. Following the transaction, the senior vice president now owns 86,331 shares of the company’s stock, valued at approximately $5,753,961.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael R. Haske sold 57,500 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $66.65, for a total transaction of $3,832,375.00. Following the transaction, the insider now directly owns 1,010,693 shares in the company, valued at approximately $67,362,688.45. The disclosure for this sale can be found here. Insiders have sold a total of 1,312,699 shares of company stock worth $84,771,159 in the last three months. Insiders own 48.80% of the company’s stock.

Several research analysts recently commented on PCTY shares. TheStreet raised shares of Paylocity from a “c+” rating to a “b+” rating in a research note on Wednesday, May 23rd. Stifel Nicolaus raised their price target on shares of Paylocity from $50.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, May 4th. Needham & Company LLC raised their price target on shares of Paylocity from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Robert W. Baird reaffirmed a “buy” rating and issued a $68.00 price target on shares of Paylocity in a research note on Friday, August 10th. Finally, BidaskClub raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $64.86.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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