Parkside Financial Bank & Trust Has $205,000 Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Parkside Financial Bank & Trust boosted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 8.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,246 shares of the software maker’s stock after purchasing an additional 96 shares during the period. Parkside Financial Bank & Trust’s holdings in Paylocity were worth $205,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PCTY. RiverPark Advisors LLC bought a new position in Paylocity in the 3rd quarter valued at about $43,000. CWM LLC raised its holdings in Paylocity by 18.1% in the 3rd quarter. CWM LLC now owns 412 shares of the software maker’s stock valued at $75,000 after acquiring an additional 63 shares during the period. Signaturefd LLC raised its holdings in Paylocity by 115.5% in the 3rd quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock valued at $91,000 after acquiring an additional 269 shares during the period. Covestor Ltd raised its holdings in Paylocity by 18.6% in the 3rd quarter. Covestor Ltd now owns 836 shares of the software maker’s stock valued at $152,000 after acquiring an additional 131 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in Paylocity in the 3rd quarter valued at about $192,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PCTY shares. Truist Financial lowered their target price on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 9th. Piper Sandler raised their target price on shares of Paylocity from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Citigroup raised their target price on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. KeyCorp reduced their price target on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $180.00 price target (down previously from $240.00) on shares of Paylocity in a research report on Friday, January 5th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Buying and Selling

In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total value of $302,086.40. Following the completion of the sale, the director now directly owns 14,704 shares of the company’s stock, valued at approximately $2,523,794.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total value of $302,086.40. Following the completion of the sale, the director now directly owns 14,704 shares of the company’s stock, valued at approximately $2,523,794.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 24,504 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the transaction, the director now directly owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The disclosure for this sale can be found here. Insiders have sold 54,547 shares of company stock worth $9,356,359 in the last quarter. Insiders own 22.50% of the company’s stock.

Paylocity Trading Down 3.4 %

Shares of PCTY traded down $5.33 on Wednesday, reaching $153.55. The company’s stock had a trading volume of 188,776 shares, compared to its average volume of 459,042. Paylocity Holding Co. has a twelve month low of $139.40 and a twelve month high of $230.52. The stock has a market capitalization of $8.65 billion, a PE ratio of 53.68, a PEG ratio of 3.46 and a beta of 0.87. The firm has a fifty day moving average of $168.25 and a 200-day moving average of $165.49.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The company had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. As a group, equities analysts anticipate that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.