Citigroup Inc. Has $3.35 Million Stock Holdings in Paylocity Holding Corporation $PCTY

Citigroup Inc. lowered its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 33.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,028 shares of the software maker’s stock after selling 10,401 shares during the quarter. Citigroup Inc.’s holdings in Paylocity were worth $3,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Paylocity by 500.6% during the second quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after acquiring an additional 375,023 shares during the last quarter. Norges Bank acquired a new stake in Paylocity in the second quarter valued at $34,042,000. Qube Research & Technologies Ltd raised its position in Paylocity by 120.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock worth $62,042,000 after purchasing an additional 186,952 shares during the last quarter. Bank of America Corp DE lifted its holdings in Paylocity by 80.3% during the 2nd quarter. Bank of America Corp DE now owns 289,553 shares of the software maker’s stock worth $52,464,000 after buying an additional 128,972 shares during the period. Finally, Jump Financial LLC acquired a new position in Paylocity during the 2nd quarter worth about $19,303,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Up 1.3%

NASDAQ PCTY opened at $115.99 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 52 week low of $100.50 and a 52 week high of $201.97. The business has a 50 day moving average price of $129.84 and a 200-day moving average price of $147.26. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 3.29 and a beta of 0.58.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. During the same quarter last year, the firm posted $1.52 EPS. Paylocity’s revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCTY has been the topic of a number of recent analyst reports. Robert W. Baird set a $220.00 price objective on Paylocity in a research note on Friday, February 6th. Barclays set a $146.00 price target on shares of Paylocity in a research report on Friday, February 6th. Wall Street Zen cut shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. TD Cowen restated a “buy” rating on shares of Paylocity in a report on Friday, February 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Paylocity in a research report on Friday, February 6th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average price target of $180.05.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.