Hel Ved Capital Management Ltd Decreases Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Hel Ved Capital Management Ltd cut its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 59.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,505 shares of the software maker’s stock after selling 8,235 shares during the period. Hel Ved Capital Management Ltd’s holdings in Paylocity were worth $1,098,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Paylocity by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock valued at $1,916,000 after acquiring an additional 49 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares during the last quarter. UMB Bank n.a. grew its position in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares during the period. HighPoint Advisor Group LLC raised its stake in Paylocity by 5.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock valued at $326,000 after buying an additional 75 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Paylocity by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock valued at $630,000 after buying an additional 77 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Paylocity Stock Performance

NASDAQ PCTY opened at $174.88 on Friday. The business has a 50-day moving average price of $199.66 and a 200-day moving average price of $193.20. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.

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

Analysts Set New Price Targets

PCTY has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. JMP Securities boosted their price target on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Jefferies Financial Group boosted their target price on shares of Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.91% of the stock is currently owned by insiders.

Paylocity 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.