Wrapmanager Inc. Trims Holdings in Paylocity Holding Corp (NASDAQ:PCTY)

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.



Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.07 by $0.27. Paylocity had a return on equity of 19.10% and a net margin of 11.57%. The company had revenue of $120.37 million for the quarter, compared to analyst estimates of $117.51 million. During the same period last year, the company earned $0.11 earnings per share. Paylocity’s quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts predict that Paylocity Holding Corp will post 1.06 EPS for the current year.

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.

About Paylocity

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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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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