Citigroup Inc. Sells 4,509 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Citigroup Inc. cut its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,108 shares of the software maker’s stock after selling 4,509 shares during the period. Citigroup Inc.’s holdings in Paylocity were worth $11,850,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TimesSquare Capital Management LLC lifted its stake in Paylocity by 8.3% in the second quarter. TimesSquare Capital Management LLC now owns 662,350 shares of the software maker’s stock worth $126,376,000 after acquiring an additional 50,885 shares during the period. Rational Advisors LLC purchased a new stake in Paylocity in the second quarter worth about $37,000. HighTower Advisors LLC lifted its stake in Paylocity by 46.8% in the second quarter. HighTower Advisors LLC now owns 4,999 shares of the software maker’s stock worth $955,000 after acquiring an additional 1,593 shares during the period. Parkside Financial Bank & Trust lifted its stake in Paylocity by 72.9% in the second quarter. Parkside Financial Bank & Trust now owns 854 shares of the software maker’s stock worth $163,000 after acquiring an additional 360 shares during the period. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in Paylocity in the second quarter worth about $1,209,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

A number of analysts recently weighed in on the stock. KeyCorp upped their price objective on shares of Paylocity from $220.00 to $255.00 and gave the stock an “overweight” rating in a research note on Monday, August 9th. Raymond James upped their price objective on shares of Paylocity from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. JMP Securities upped their price objective on shares of Paylocity from $220.00 to $272.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. William Blair reissued a “buy” rating on shares of Paylocity in a research report on Friday, August 6th. Finally, Wolfe Research increased their price target on shares of Paylocity from $180.00 to $230.00 and gave the company a “peer perform” rating in a research report on Friday, August 6th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Paylocity currently has a consensus rating of “Hold” and a consensus target price of $220.31.

In related news, CEO Steven R. Beauchamp sold 38,234 shares of the stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $252.21, for a total value of $9,642,997.14. Following the transaction, the chief executive officer now owns 1,808,645 shares in the company, valued at approximately $456,158,355.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven I. Sarowitz sold 22,704 shares of the stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $256.40, for a total transaction of $5,821,305.60. The disclosure for this sale can be found here. Insiders sold a total of 96,332 shares of company stock valued at $24,665,789 over the last ninety days. 32.90% of the stock is currently owned by insiders.

Shares of Paylocity stock opened at $278.79 on Tuesday. The firm has a market capitalization of $15.22 billion, a P/E ratio of 223.03 and a beta of 1.31. The company has a 50 day moving average price of $239.75 and a 200 day moving average price of $201.49. Paylocity Holding Co. has a 52 week low of $139.31 and a 52 week high of $279.16.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 5th. The software maker reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.39. Paylocity had a net margin of 11.14% and a return on equity of 16.19%. As a group, analysts anticipate that Paylocity Holding Co. will post 1.15 EPS for the current year.

Paylocity Profile

Paylocity Holding Corp. engages in the development and provision of cloud-based software solution. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded by Steve I. Sarowitz in 1997 and is headquartered in Schaumburg, IL.

Featured Article: What are the components of an earnings report?

Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Co. (NASDAQ:PCTY).

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.