Van Berkom & Associates Inc. Trims Stake in Paylocity Holding Corporation $PCTY

Van Berkom & Associates Inc. lowered its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 446,215 shares of the software maker’s stock after selling 7,538 shares during the period. Paylocity accounts for about 2.1% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 26th largest holding. Van Berkom & Associates Inc. owned about 0.82% of Paylocity worth $71,069,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PCTY. Cornerstone Planning Group LLC grew its stake in Paylocity by 8,084.6% in the third quarter. Cornerstone Planning Group LLC now owns 1,064 shares of the software maker’s stock worth $169,000 after purchasing an additional 1,051 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Paylocity by 14.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 32,566 shares of the software maker’s stock valued at $5,187,000 after buying an additional 4,111 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Paylocity by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 98,964 shares of the software maker’s stock worth $15,762,000 after buying an additional 810 shares during the period. AlphaQuest LLC grew its position in shares of Paylocity by 80.3% in the 3rd quarter. AlphaQuest LLC now owns 24,804 shares of the software maker’s stock worth $3,951,000 after buying an additional 11,050 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Paylocity by 1.6% in the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock worth $772,000 after acquiring an additional 78 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on PCTY shares. Jefferies Financial Group dropped their price objective on shares of Paylocity from $225.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. BTIG Research started coverage on shares of Paylocity in a report on Tuesday, December 16th. They set a “buy” rating and a $180.00 target price for the company. Zacks Research upgraded Paylocity from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Citizens Jmp reduced their price objective on Paylocity from $270.00 to $245.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 5th. Finally, BMO Capital Markets lowered their price objective on Paylocity from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.05.

Insiders Place Their Bets

In other Paylocity news, CFO Ryan Glenn sold 1,737 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total transaction of $249,520.05. Following the transaction, the chief financial officer owned 77,229 shares in the company, valued at approximately $11,093,945.85. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.40% of the company’s stock.

Paylocity Trading Down 6.1%

Shares of PCTY opened at $127.26 on Wednesday. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 31.89, a P/E/G ratio of 3.99 and a beta of 0.54. The business’s fifty day simple moving average is $146.67 and its two-hundred day simple moving average is $157.75. Paylocity Holding Corporation has a 12 month low of $125.76 and a 12 month high of $223.80.

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

Paylocity Company Profile

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.