Federated Hermes Inc. Has $12.82 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Federated Hermes Inc. reduced its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 28.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 77,738 shares of the software maker’s stock after selling 31,319 shares during the period. Federated Hermes Inc.’s holdings in Paylocity were worth $12,815,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC grew its stake in shares of Paylocity by 18.1% during the 3rd quarter. CWM LLC now owns 412 shares of the software maker’s stock worth $75,000 after acquiring an additional 63 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Paylocity by 28.2% during the 3rd quarter. Avior Wealth Management LLC now owns 3,147 shares of the software maker’s stock worth $572,000 after acquiring an additional 693 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Paylocity during the 3rd quarter worth approximately $653,000. Handelsbanken Fonder AB grew its stake in shares of Paylocity by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 243,941 shares of the software maker’s stock worth $44,324,000 after acquiring an additional 5,740 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Paylocity by 33.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,100 shares of the software maker’s stock worth $2,562,000 after acquiring an additional 3,500 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PCTY. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a research note on Monday, January 22nd. 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 research note on Friday, February 9th. Truist Financial decreased their target price on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 9th. BTIG Research began coverage on shares of Paylocity in a research note on Tuesday, February 6th. They issued a “buy” rating and a $200.00 target price for the company. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $180.00 target price (down from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Transactions at Paylocity

In other news, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity 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 completion of the sale, the director now owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity 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 completion of the sale, the director now owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction on Monday, February 12th. The stock was sold at an average price of $175.47, for a total value of $4,299,716.88. Following the sale, the director now directly owns 9,587,872 shares of the company’s stock, valued at approximately $1,682,383,899.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,547 shares of company stock valued at $9,356,359. 22.50% of the stock is currently owned by corporate insiders.

Paylocity Price Performance

PCTY stock opened at $158.88 on Wednesday. The company has a fifty day moving average price of $168.25 and a two-hundred day moving average price of $165.49. Paylocity Holding Co. has a one year low of $139.40 and a one year high of $230.52. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 53.68, a price-to-earnings-growth ratio of 3.46 and a beta of 0.87.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, topping 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 firm had revenue of $326.36 million during the quarter, compared to analysts’ expectations of $324.34 million. Research analysts anticipate that Paylocity Holding Co. will post 3.48 EPS 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.