Motley Fool Asset Management LLC Has $7.11 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Motley Fool Asset Management LLC reduced its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,124 shares of the software maker’s stock after selling 643 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Paylocity were worth $7,109,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Paylocity in the fourth quarter worth $36,000. RiverPark Advisors LLC acquired a new position in shares of Paylocity in the third quarter worth $43,000. CWM LLC increased its stake in shares of Paylocity by 18.1% in the third quarter. CWM LLC now owns 412 shares of the software maker’s stock worth $75,000 after acquiring an additional 63 shares during the last quarter. Signaturefd LLC increased its stake in shares of Paylocity by 115.5% in the third quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock worth $91,000 after acquiring an additional 269 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Paylocity by 18.6% in the third quarter. Covestor Ltd now owns 836 shares of the software maker’s stock worth $152,000 after acquiring an additional 131 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the transaction, the director now owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total value of $302,086.40. Following the completion of the transaction, the director now owns 14,704 shares in the company, valued at $2,523,794.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the transaction, the director now owns 9,587,872 shares of the company’s stock, valued at approximately $1,682,383,899.84. The disclosure for this sale can be found here. Insiders sold a total of 54,547 shares of company stock worth $9,356,359 over the last quarter. Company insiders own 22.50% of the company’s stock.

Paylocity Trading Up 0.3 %

PCTY stock traded up $0.42 during trading on Thursday, reaching $156.58. 363,834 shares of the stock were exchanged, compared to its average volume of 463,499. Paylocity Holding Co. has a twelve month low of $139.40 and a twelve month high of $230.52. The company has a market capitalization of $8.82 billion, a P/E ratio of 52.90, a price-to-earnings-growth ratio of 3.44 and a beta of 0.87. The stock has a 50 day simple moving average of $167.57 and a 200-day simple moving average of $165.36.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. The business had revenue of $326.36 million for the quarter, compared to the consensus estimate of $324.34 million. Equities analysts predict that Paylocity Holding Co. will post 3.48 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. KeyCorp dropped their price target on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Jefferies Financial Group reiterated a “hold” rating and issued a $180.00 price objective (down from $240.00) on shares of Paylocity in a report on Friday, January 5th. Piper Sandler upped their price objective on shares of Paylocity from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a report on Monday, January 22nd. Finally, Mizuho decreased their price objective on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.