Wrapmanager Inc. trimmed its position in Paylocity Holding Corp (NASDAQ:PCTY) by 44.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,200 shares of the software maker’s stock after selling 1,763 shares during the quarter. Wrapmanager Inc.’s holdings in Paylocity were worth $206,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Paylocity during the fourth quarter worth about $12,819,000. Wasatch Advisors Inc. grew its holdings in Paylocity by 9.3% during the first quarter. Wasatch Advisors Inc. now owns 2,008,033 shares of the software maker’s stock worth $179,096,000 after acquiring an additional 171,514 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Paylocity during the first quarter worth about $13,600,000. Federated Investors Inc. PA grew its holdings in Paylocity by 380.6% during the first quarter. Federated Investors Inc. PA now owns 190,223 shares of the software maker’s stock worth $16,966,000 after acquiring an additional 150,642 shares during the period. Finally, FMR LLC grew its holdings in Paylocity by 19.5% during the fourth quarter. FMR LLC now owns 846,032 shares of the software maker’s stock worth $50,940,000 after acquiring an additional 138,231 shares during the period. Hedge funds and other institutional investors own 64.43% of the company’s stock.
Shares of PCTY opened at $97.04 on Thursday. Paylocity Holding Corp has a 12 month low of $53.46 and a 12 month high of $111.61. The firm has a 50 day simple moving average of $102.09. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 89.85, a P/E/G ratio of 5.78 and a beta of 1.69.
In other Paylocity news, insider Mark S. Kinsey sold 635 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $103.34, for a total value of $65,620.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael R. Haske sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $91.64, for a total value of $4,582,000.00. Following the completion of the sale, the chief operating officer now directly owns 868,334 shares in the company, valued at $79,574,127.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,919 shares of company stock worth $5,885,362. 41.20% of the stock is owned by corporate insiders.
Several analysts recently commented on PCTY shares. Cantor Fitzgerald started coverage on Paylocity in a report on Tuesday, June 18th. They set an “overweight” rating on the stock. JMP Securities raised their target price on Paylocity to $115.00 and gave the stock a “market perform” rating in a report on Monday, July 22nd. SunTrust Banks raised their target price on Paylocity from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Stifel Nicolaus raised their target price on Paylocity from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, KeyCorp raised their target price on Paylocity from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Paylocity currently has a consensus rating of “Buy” and an average target price of $103.58.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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