Wealth Alliance Sells 53 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Wealth Alliance decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,413 shares of the software maker’s stock after selling 53 shares during the period. Wealth Alliance’s holdings in Paylocity were worth $282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after acquiring an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after acquiring an additional 385,625 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Paylocity by 3.5% during the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after acquiring an additional 17,560 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Paylocity by 283.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after acquiring an additional 229,057 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Paylocity by 3.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock valued at $47,389,000 after acquiring an additional 8,878 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 10,237 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the sale, the director now directly owns 9,214,115 shares of the company’s stock, valued at $1,935,885,561.50. The trade was a 0.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 4,513 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the completion of the sale, the director now directly owns 1,003 shares of the company’s stock, valued at $210,539.73. The trade was a 81.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,999 shares of company stock valued at $17,822,987 in the last three months. Corporate insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PCTY shares. Truist Financial raised their price objective on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays raised their price objective on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Stifel Nicolaus raised their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. JMP Securities lifted their target price on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Finally, UBS Group lifted their target price on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Stock Down 0.8 %

Shares of NASDAQ:PCTY opened at $204.82 on Friday. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 52.52, a P/E/G ratio of 4.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50-day moving average is $202.73 and its 200-day moving average is $185.25. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Equities research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.