American Century Companies Inc. Sells 70,908 Shares of Paylocity Holding Corporation $PCTY

American Century Companies Inc. trimmed its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 13.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 463,935 shares of the software maker’s stock after selling 70,908 shares during the period. American Century Companies Inc. owned 0.85% of Paylocity worth $73,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Paylocity in the third quarter valued at approximately $41,000. SBI Securities Co. Ltd. grew its position in shares of Paylocity by 47.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock worth $46,000 after buying an additional 81 shares during the period. True Wealth Design LLC grew its stake in shares of Paylocity by 155.4% in the 3rd quarter. True Wealth Design LLC now owns 286 shares of the software maker’s stock valued at $46,000 after buying an additional 174 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of Paylocity by 14,800.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 298 shares of the software maker’s stock worth $47,000 after purchasing an additional 296 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of Paylocity in the second quarter valued at $51,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Trading Up 0.8%

NASDAQ PCTY opened at $114.49 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. Paylocity Holding Corporation has a fifty-two week low of $100.50 and a fifty-two week high of $203.70. The stock has a market cap of $6.17 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58. The stock has a 50 day simple moving average of $130.57 and a two-hundred day simple moving average of $147.47.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. The company had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. On average, analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCTY. BTIG Research dropped their price objective on Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Paylocity in a report on Thursday, January 29th. Barclays set a $146.00 price target on shares of Paylocity in a report on Friday, February 6th. Mizuho dropped their target price on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Finally, Truist Financial reduced their price target on shares of Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock 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 given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.05.

Paylocity Company Profile

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.