Summit Creek Advisors LLC Sells 325 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Summit Creek Advisors LLC decreased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,953 shares of the software maker’s stock after selling 325 shares during the quarter. Paylocity makes up approximately 3.3% of Summit Creek Advisors LLC’s holdings, making the stock its 4th biggest holding. Summit Creek Advisors LLC’s holdings in Paylocity were worth $25,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCTY. JPMorgan Chase & Co. raised its stake in Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares during the period. American Century Companies Inc. increased its stake in shares of Paylocity by 190.0% in the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker’s stock valued at $69,774,000 after purchasing an additional 229,179 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after purchasing an additional 229,057 shares during the period. Trillium Asset Management LLC increased its stake in shares of Paylocity by 194.7% in the fourth quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker’s stock valued at $19,888,000 after purchasing an additional 65,869 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Paylocity by 113.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock valued at $15,904,000 after purchasing an additional 51,276 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 3,083 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $200.73, for a total value of $618,850.59. Following the completion of the transaction, the director now owns 8,335,347 shares of the company’s stock, valued at approximately $1,673,154,203.31. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 7,083 shares of company stock valued at $1,420,041. Company insiders own 21.91% of the company’s stock.

Paylocity Trading Up 0.6 %

Shares of NASDAQ:PCTY opened at $191.91 on Monday. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50 day moving average price of $201.44 and a 200 day moving average price of $191.46.

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

Analyst Upgrades and Downgrades

PCTY has been the topic of several analyst reports. Needham & Company LLC raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James restated an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. JMP Securities raised their price target on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Stifel Nicolaus increased their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.25.

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.