New York Life Investment Management LLC Sells 456 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

New York Life Investment Management LLC decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 9.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,599 shares of the software maker’s stock after selling 456 shares during the period. New York Life Investment Management LLC’s holdings in Paylocity were worth $917,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of PCTY. Creative Planning bought a new stake in Paylocity in the 3rd quarter valued at approximately $267,000. International Assets Investment Management LLC raised its stake in shares of Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after purchasing an additional 7,707 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Paylocity by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,046 shares of the software maker’s stock worth $832,000 after purchasing an additional 340 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Paylocity by 3.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after purchasing an additional 82 shares in the last quarter. Finally, Tompkins Financial Corp bought a new stake in shares of Paylocity during the 3rd quarter worth approximately $82,000. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JMP Securities upped their price objective on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. TD Cowen dropped their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Needham & Company LLC upped their price objective on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Raymond James reissued an “outperform” rating and set a $265.00 target price (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $204.95 on Tuesday. 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 stock’s fifty day moving average price is $203.50 and its two-hundred day moving average price is $188.23. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 52.55, a P/E/G ratio of 4.49 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 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%. On average, equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 2,295 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $205.83, for a total transaction of $472,379.85. Following the completion of the sale, the director now directly owns 8,426,714 shares in the company, valued at approximately $1,734,470,542.62. This represents a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 63,849 shares of company stock valued at $12,982,226 in the last ninety days. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Company Profile

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.