Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in Paylocity Holding Co. (NASDAQ:PCTYFree Report) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,923 shares of the software maker’s stock after selling 310 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Paylocity were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its stake in shares of Paylocity by 2.4% in the 4th quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker’s stock worth $531,000 after acquiring an additional 76 shares during the last quarter. Shaker Investments LLC OH increased its stake in shares of Paylocity by 0.3% in the 4th quarter. Shaker Investments LLC OH now owns 23,672 shares of the software maker’s stock worth $3,902,000 after acquiring an additional 77 shares during the last quarter. Seven Eight Capital LP increased its stake in shares of Paylocity by 4.9% in the 3rd quarter. Seven Eight Capital LP now owns 1,658 shares of the software maker’s stock worth $301,000 after acquiring an additional 78 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Paylocity by 8.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the software maker’s stock worth $209,000 after acquiring an additional 91 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of Paylocity by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 10,372 shares of the software maker’s stock worth $1,710,000 after acquiring an additional 100 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PCTY shares. Barclays raised their target price on Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price target on shares of Paylocity in a report on Friday, May 3rd. Mizuho lowered their price target on Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Citigroup increased their price target on Paylocity from $176.00 to $178.00 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Finally, TD Cowen lowered their price target on Paylocity from $188.00 to $180.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price of $196.40.

View Our Latest Research Report on PCTY

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $142.17 on Monday. Paylocity Holding Co. has a fifty-two week low of $139.40 and a fifty-two week high of $230.52. The firm has a market capitalization of $8.02 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. The stock’s 50-day simple moving average is $163.25 and its 200-day simple moving average is $162.63.

Paylocity (NASDAQ:PCTYGet Free Report) last issued its earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.29. The business had revenue of $401.28 million for the quarter, compared to analyst estimates of $396.93 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. On average, sell-side analysts forecast that Paylocity Holding Co. will post 3.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity stock in a transaction that occurred 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 owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity stock in a transaction that occurred 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 owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Katherine Ross sold 491 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total value of $82,630.39. Following the completion of the transaction, the senior vice president now directly owns 15,353 shares in the company, valued at approximately $2,583,756.37. The disclosure for this sale can be found here. Insiders have sold a total of 22,283 shares of company stock valued at $3,761,110 over the last quarter. Company insiders own 22.50% of the company’s stock.

Paylocity Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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