Paylocity Holding Corporation $PCTY Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 99.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,474 shares of the software maker’s stock after selling 475,421 shares during the period. William Blair Investment Management LLC’s holdings in Paylocity were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. ProShare Advisors LLC increased its stake in Paylocity by 3.3% during the 2nd quarter. ProShare Advisors LLC now owns 2,055 shares of the software maker’s stock valued at $372,000 after purchasing an additional 65 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Paylocity by 1.6% in the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock valued at $772,000 after acquiring an additional 78 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Paylocity by 47.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock valued at $46,000 after acquiring an additional 81 shares during the period. PNC Financial Services Group Inc. raised its stake in Paylocity by 2.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock worth $528,000 after acquiring an additional 81 shares during the last quarter. Finally, MGO One Seven LLC lifted its position in Paylocity by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 2,010 shares of the software maker’s stock worth $320,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

NASDAQ PCTY opened at $113.60 on Wednesday. Paylocity Holding Corporation has a 12 month low of $100.50 and a 12 month high of $203.70. The firm has a market capitalization of $6.12 billion, a PE ratio of 26.73, a P/E/G ratio of 3.10 and a beta of 0.58. The company’s 50 day simple moving average is $131.32 and its 200 day simple moving average is $147.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The firm had revenue of $416.13 million during the quarter, compared to analyst estimates of $408.37 million. During the same period last year, the company posted $1.52 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Zacks Research upgraded Paylocity from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Truist Financial dropped their price objective on shares of Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Paylocity in a research note on Thursday, January 29th. Citizens Jmp decreased their target price on shares of Paylocity from $245.00 to $170.00 and set a “market outperform” rating for the company in a research report on Friday, February 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Paylocity in a research report on Friday, February 6th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.05.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.