Fisher Asset Management LLC Has $11.99 Million Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Fisher Asset Management LLC cut its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,752 shares of the software maker’s stock after selling 1,235 shares during the period. Fisher Asset Management LLC owned about 0.13% of Paylocity worth $11,993,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PCTY. GAMMA Investing LLC bought a new stake in Paylocity during the 4th quarter worth approximately $36,000. RiverPark Advisors LLC bought a new stake in Paylocity during the 3rd quarter worth approximately $43,000. Signaturefd LLC grew its position in Paylocity by 115.5% during the 3rd quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock worth $91,000 after acquiring an additional 269 shares during the last quarter. Covestor Ltd grew its position in Paylocity by 18.6% during the 3rd quarter. Covestor Ltd now owns 836 shares of the software maker’s stock worth $152,000 after acquiring an additional 131 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in Paylocity during the 3rd quarter worth approximately $192,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCTY has been the topic of a number of recent research reports. BTIG Research initiated coverage on Paylocity in a research report on Tuesday, February 6th. They issued a “buy” rating and a $200.00 price objective on the stock. Piper Sandler decreased their price objective on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen decreased their price objective on Paylocity from $188.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research report on Monday, January 22nd. Finally, Citigroup increased their price objective on Paylocity from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $196.67.

Paylocity Trading Up 2.0 %

Shares of Paylocity stock opened at $171.06 on Tuesday. The company has a market capitalization of $9.64 billion, a PE ratio of 49.73, a PEG ratio of 3.63 and a beta of 0.88. Paylocity Holding Co. has a 12 month low of $139.40 and a 12 month high of $230.52. The stock’s fifty day simple moving average is $165.30 and its 200 day simple moving average is $162.81.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The firm had revenue of $326.36 million for the quarter, compared to the consensus estimate of $324.34 million. Analysts predict that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Insider Buying and Selling at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 7,760 shares of Paylocity stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total value of $1,295,532.00. Following the sale, the chief executive officer now owns 1,746,468 shares of the company’s stock, valued at approximately $291,572,832.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven R. Beauchamp sold 7,760 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total value of $1,295,532.00. Following the completion of the transaction, the chief executive officer now owns 1,746,468 shares in the company, valued at approximately $291,572,832.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Diehl sold 20,032 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the transaction, the director now owns 16,391 shares of the company’s stock, valued at approximately $2,762,703.05. The disclosure for this sale can be found here. Insiders have sold 54,547 shares of company stock valued at $9,356,359 in the last 90 days. 22.50% of the stock is currently owned by company insiders.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.