Paylocity Holding Corporation $PCTY Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 266,740 shares of the software maker’s stock after selling 20,324 shares during the quarter. TD Asset Management Inc’s holdings in Paylocity were worth $42,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCTY. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Paylocity in the third quarter worth about $41,000. SBI Securities Co. Ltd. raised its holdings in Paylocity by 47.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock worth $46,000 after purchasing an additional 81 shares during the period. True Wealth Design LLC boosted its position in Paylocity by 155.4% during the third quarter. True Wealth Design LLC now owns 286 shares of the software maker’s stock worth $46,000 after purchasing an additional 174 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Paylocity by 14,800.0% during the third quarter. SJS Investment Consulting Inc. now owns 298 shares of the software maker’s stock worth $47,000 after purchasing an additional 296 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in Paylocity in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

NASDAQ:PCTY opened at $106.49 on Friday. The company has a market cap of $5.74 billion, a P/E ratio of 25.06, a P/E/G ratio of 3.24 and a beta of 0.54. Paylocity Holding Corporation has a twelve month low of $100.50 and a twelve month high of $210.35. The company’s 50-day moving average price is $133.01 and its 200-day moving average price is $148.90. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The company had revenue of $416.13 million during the quarter, compared to the consensus estimate 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. On average, sell-side analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCTY has been the subject of several research analyst reports. BTIG Research reduced their target price on Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Truist Financial reduced their price objective on shares of Paylocity from $240.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Weiss Ratings lowered shares of Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. Zacks Research upgraded shares of Paylocity from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Stifel Nicolaus decreased their price target on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $180.05.

Paylocity 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.