Summit Creek Advisors LLC Sells 12,379 Shares of Paylocity Holding Corporation $PCTY

Summit Creek Advisors LLC cut its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 11.3% in the third quarter, Holdings Channel.com reports. The firm owned 97,051 shares of the software maker’s stock after selling 12,379 shares during the quarter. Paylocity makes up approximately 2.3% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 20th largest position. Summit Creek Advisors LLC’s holdings in Paylocity were worth $15,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCTY. Oregon Public Employees Retirement Fund boosted its position in shares of Paylocity by 1.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 8,984 shares of the software maker’s stock worth $1,431,000 after buying an additional 168 shares during the period. Lecap Asset Management Ltd. grew its stake in shares of Paylocity by 11.2% during the 3rd quarter. Lecap Asset Management Ltd. now owns 8,947 shares of the software maker’s stock worth $1,425,000 after acquiring an additional 898 shares in the last quarter. SkyOak Wealth LLC raised its holdings in shares of Paylocity by 19.8% in the third quarter. SkyOak Wealth LLC now owns 1,547 shares of the software maker’s stock valued at $246,000 after purchasing an additional 256 shares during the last quarter. Securian Asset Management Inc. lifted its position in shares of Paylocity by 3.1% in the third quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker’s stock worth $534,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Paylocity by 2.5% in the third quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the software maker’s stock worth $1,975,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In other Paylocity news, CFO Ryan Glenn sold 1,737 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total value of $249,520.05. Following the transaction, the chief financial officer directly owned 77,229 shares in the company, valued at $11,093,945.85. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 19.40% of the stock is currently owned by company insiders.

Paylocity Stock Down 2.2%

Shares of NASDAQ PCTY opened at $150.39 on Monday. The business’s 50 day moving average price is $148.19 and its two-hundred day moving average price is $162.78. The company has a market cap of $8.18 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 4.43 and a beta of 0.56. Paylocity Holding Corporation has a twelve month low of $135.46 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Tuesday, November 4th. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. The company had revenue of $408.17 million during the quarter, compared to the consensus estimate of $399.53 million. Paylocity had a return on equity of 22.07% and a net margin of 13.75%.The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. As a group, research analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group decreased their target price on shares of Paylocity from $195.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Paylocity in a report on Monday, December 29th. Stephens lowered their target price on Paylocity from $200.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. BTIG Research started coverage on Paylocity in a research report on Tuesday, December 16th. They set a “buy” rating and a $180.00 price target for the company. Finally, Zacks Research raised Paylocity from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $205.16.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.