Wasatch Advisors LP Sells 161,190 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Wasatch Advisors LP lessened its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 6.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,344,249 shares of the software maker’s stock after selling 161,190 shares during the period. Paylocity makes up approximately 2.3% of Wasatch Advisors LP’s investment portfolio, making the stock its 5th largest position. Wasatch Advisors LP’s holdings in Paylocity were worth $467,607,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Paylocity by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock worth $1,916,000 after buying an additional 49 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Paylocity by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock valued at $3,813,000 after acquiring an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after acquiring an additional 63 shares during the last quarter. UMB Bank n.a. increased its position in Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in Paylocity by 5.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock valued at $326,000 after purchasing an additional 75 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Stock Performance

NASDAQ PCTY opened at $186.75 on Wednesday. The business’s 50-day simple moving average is $195.20 and its 200-day simple moving average is $194.43. The firm has a market capitalization of $10.44 billion, a P/E ratio of 47.88, a P/E/G ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Equities analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Buying and Selling

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now owns 420,000 shares in the company, valued at $81,862,200. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCTY has been the topic of several analyst reports. TD Cowen decreased their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Stifel Nicolaus increased their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Barclays lifted their price objective on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Mizuho reduced their target price on Paylocity from $245.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.31.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.