Paylocity Holding Corporation $PCTY Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC reduced its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,831 shares of the software maker’s stock after selling 14,084 shares during the quarter. GW&K Investment Management LLC owned 0.68% of Paylocity worth $58,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after acquiring an additional 7,594 shares in the last quarter. Focus Partners Wealth increased its position in shares of Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Paylocity in the 2nd quarter valued at about $815,000. Strs Ohio raised its stake in shares of Paylocity by 31.2% in the 2nd quarter. Strs Ohio now owns 7,819 shares of the software maker’s stock valued at $1,417,000 after purchasing an additional 1,859 shares in the last quarter. Finally, Machina Capital S.A.S. lifted its position in shares of Paylocity by 7.7% during the second quarter. Machina Capital S.A.S. now owns 2,094 shares of the software maker’s stock worth $379,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PCTY shares. BTIG Research cut their price objective on Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. KeyCorp dropped their price target on Paylocity from $225.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Stephens set a $160.00 price objective on Paylocity in a research note on Friday, January 16th. Guggenheim upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Monday, November 10th. Finally, TD Cowen restated a “buy” rating on shares of Paylocity in a research report on Friday, February 6th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.05.

Paylocity Trading Up 0.8%

Shares of NASDAQ:PCTY opened at $114.49 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $130.57 and its 200 day moving average price is $147.47. The company has a market cap of $6.17 billion, a PE ratio of 26.94, a P/E/G ratio of 3.26 and a beta of 0.58. Paylocity Holding Corporation has a fifty-two week low of $100.50 and a fifty-two week high of $203.70.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The firm had revenue of $416.13 million during the quarter, compared to analysts’ expectations of $408.37 million. During the same quarter in the prior year, the firm earned $1.52 EPS. Paylocity’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share 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.