Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 4.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 26,686 shares of the software maker’s stock after selling 1,262 shares during the period. Mutual of America Capital Management LLC’s holdings in Paylocity were worth $4,399,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Paylocity by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock valued at $753,012,000 after purchasing an additional 25,562 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Paylocity by 10.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,721,425 shares of the software maker’s stock valued at $334,405,000 after purchasing an additional 156,945 shares in the last quarter. Invesco Ltd. boosted its position in shares of Paylocity by 20.7% during the 1st quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker’s stock valued at $284,399,000 after purchasing an additional 236,876 shares in the last quarter. State Street Corp boosted its position in shares of Paylocity by 0.3% during the 2nd quarter. State Street Corp now owns 1,285,405 shares of the software maker’s stock valued at $237,196,000 after purchasing an additional 3,620 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Paylocity by 45.7% during the 4th quarter. 1832 Asset Management L.P. now owns 540,300 shares of the software maker’s stock valued at $104,959,000 after purchasing an additional 169,500 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Steven R. Beauchamp sold 7,760 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the transaction, the chief executive officer now owns 1,746,468 shares of the company’s stock, valued at $291,572,832.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Steven R. Beauchamp sold 7,760 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the transaction, the chief executive officer now owns 1,746,468 shares of the company’s stock, valued at $291,572,832.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. Diehl sold 1,760 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the transaction, the director now directly owns 14,704 shares in the company, valued at approximately $2,523,794.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,547 shares of company stock valued at $9,356,359. 22.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PCTY has been the subject of several research reports. JMP Securities restated a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research report on Monday, January 22nd. KeyCorp decreased their target price on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Mizuho decreased their target price on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 target price on shares of Paylocity in a report on Friday, February 9th. Finally, Citigroup raised their target price on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Paylocity Stock Performance

Shares of PCTY opened at $163.96 on Tuesday. Paylocity Holding Co. has a twelve month low of $139.40 and a twelve month high of $230.52. The firm has a market cap of $9.24 billion, a PE ratio of 55.39, a PEG ratio of 3.64 and a beta of 0.87. The firm’s 50 day moving average price is $169.54 and its 200 day moving average price is $166.82.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The company had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. On average, sell-side analysts anticipate that Paylocity Holding Co. will post 3.48 earnings per share for the current fiscal year.

Paylocity Company 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.