18,510 Paylocity Holding Corporation $PCTY Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 309,856 shares of the software maker’s stock after selling 18,510 shares during the quarter. Paylocity makes up approximately 1.3% of Riverbridge Partners LLC’s holdings, making the stock its 21st biggest holding. Riverbridge Partners LLC owned about 0.59% of Paylocity worth $44,176,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc increased its holdings in Paylocity by 1.8% in the third quarter. Versant Capital Management Inc now owns 4,639 shares of the software maker’s stock valued at $661,000 after buying an additional 82 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Paylocity by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock worth $1,131,000 after buying an additional 100 shares during the last quarter. State of Wyoming lifted its holdings in Paylocity by 16.0% during the 1st quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after buying an additional 119 shares during the last quarter. Elevation Wealth Partners LLC lifted its holdings in Paylocity by 37.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 471 shares of the software maker’s stock worth $67,000 after buying an additional 129 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Paylocity by 1.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,933 shares of the software maker’s stock worth $965,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the subject of a number of research analyst reports. TD Cowen boosted their price target on Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Wall Street Zen upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets raised their price objective on Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, Guggenheim boosted their target price on shares of Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $177.82.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 19,459 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $157.78, for a total value of $3,070,241.02. Following the sale, the director directly owned 4,453,495 shares in the company, valued at approximately $702,672,441.10. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Steven Beauchamp sold 15,000 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $165.22, for a total transaction of $2,478,300.00. Following the transaction, the chairman directly owned 1,243,389 shares of the company’s stock, valued at approximately $205,432,730.58. This trade represents a 1.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 151,704 shares of company stock valued at $25,137,741. 20.10% of the stock is owned by company insiders.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $179.00 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.04 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $156.88 and its two-hundred day moving average price is $127.78. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $181.57. The stock has a market capitalization of $9.30 billion, a P/E ratio of 34.69, a P/E/G ratio of 2.03 and a beta of 0.43.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, November 5th. The software maker reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.16. The company had revenue of $451.67 million during the quarter, compared to the consensus estimate of $443.12 million. Paylocity had a return on equity of 27.59% and a net margin of 15.40%. Paylocity’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 earnings per share. As a group, sell-side analysts forecast that Paylocity Holding Corporation will post 6.94 earnings per share for the current year.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations. Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.