BNP Paribas Arbitrage SA reduced its stake in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 68.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,747 shares of the software maker’s stock after selling 3,807 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Paylocity were worth $103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in Paylocity by 4.5% during the first quarter. Principal Financial Group Inc. now owns 21,816 shares of the software maker’s stock worth $1,117,000 after acquiring an additional 943 shares during the last quarter. Bank of Montreal Can increased its stake in Paylocity by 16.4% during the second quarter. Bank of Montreal Can now owns 8,491 shares of the software maker’s stock worth $500,000 after acquiring an additional 1,198 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Paylocity by 17.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,293 shares of the software maker’s stock worth $425,000 after acquiring an additional 1,244 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Paylocity by 0.5% during the first quarter. OppenheimerFunds Inc. now owns 302,713 shares of the software maker’s stock worth $15,508,000 after acquiring an additional 1,427 shares during the last quarter. Finally, We Are One Seven LLC increased its stake in Paylocity by 431.9% during the first quarter. We Are One Seven LLC now owns 2,404 shares of the software maker’s stock worth $123,000 after acquiring an additional 1,952 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

PCTY opened at $80.27 on Friday. The company has a market cap of $4.04 billion, a PE ratio of 258.94, a price-to-earnings-growth ratio of 4.68 and a beta of 1.94. Paylocity Holding Corp has a one year low of $41.15 and a one year high of $80.96. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01.

Paylocity (NASDAQ:PCTY) last released 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 the consensus estimate of $93.33 million. Paylocity had a net margin of 10.22% and a return on equity of 12.44%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. equities research analysts predict that Paylocity Holding Corp will post 0.75 earnings per share for the current year.

Several equities research analysts have weighed in on the company. Royal Bank of Canada reduced their price objective on Paylocity from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday, August 10th. Needham & Company LLC boosted their price objective on Paylocity from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Wells Fargo & Co boosted their price objective on Paylocity from $52.00 to $58.00 and gave the stock a “market perform” rating in a research note on Friday, August 10th. BidaskClub raised Paylocity from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus upped their target price on Paylocity from $59.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $64.86.

In related news, Director Jeffrey T. Diehl sold 750,000 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $65.75, for a total value of $49,312,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael R. Haske sold 57,500 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $66.65, for a total value of $3,832,375.00. Following the completion of the sale, the insider now owns 1,010,693 shares of the company’s stock, valued at approximately $67,362,688.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,244,510 shares of company stock worth $80,678,806. Insiders own 48.80% of the company’s stock.

About Paylocity

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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