Legal & General Group Plc lowered its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 1.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,831 shares of the software maker’s stock after selling 97 shares during the period. Legal & General Group Plc’s holdings in Paylocity Holding Corporation were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCTY. Norges Bank purchased a new position in Paylocity Holding Corporation during the fourth quarter valued at approximately $1,200,000. Renaissance Technologies LLC boosted its position in Paylocity Holding Corporation by 165.9% in the fourth quarter. Renaissance Technologies LLC now owns 67,900 shares of the software maker’s stock valued at $2,038,000 after buying an additional 42,360 shares during the period. Independent Portfolio Consultants Inc. boosted its position in Paylocity Holding Corporation by 38.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 6,005 shares of the software maker’s stock valued at $232,000 after buying an additional 1,655 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in Paylocity Holding Corporation by 17.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 126,875 shares of the software maker’s stock valued at $4,901,000 after buying an additional 19,200 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in Paylocity Holding Corporation by 31.2% in the first quarter. Artisan Partners Limited Partnership now owns 706,726 shares of the software maker’s stock valued at $27,301,000 after buying an additional 167,919 shares during the period. Institutional investors own 63.54% of the company’s stock.

Paylocity Holding Corporation (PCTY) opened at 44.43 on Thursday. The stock has a 50 day moving average of $46.00 and a 200 day moving average of $41.14. Paylocity Holding Corporation has a one year low of $29.69 and a one year high of $49.65. The firm has a market cap of $2.29 billion, a PE ratio of 444.30 and a beta of 2.26.

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PCTY has been the subject of several analyst reports. ValuEngine upgraded shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Tuesday, July 18th. Pacific Crest reiterated a “hold” rating on shares of Paylocity Holding Corporation in a report on Thursday, May 4th. Wells Fargo & Company reiterated a “market perform” rating on shares of Paylocity Holding Corporation in a report on Friday, May 12th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Paylocity Holding Corporation in a report on Monday, June 26th. They set a “hold” rating and a $45.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $49.33.

In other news, Director Steven I. Sarowitz sold 27,301 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $45.05, for a total transaction of $1,229,910.05. Following the completion of the sale, the director now owns 16,250,729 shares of the company’s stock, valued at $732,095,341.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 172,699 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $44.37, for a total transaction of $7,662,654.63. Following the sale, the director now directly owns 16,337,902 shares of the company’s stock, valued at approximately $724,912,711.74. The disclosure for this sale can be found here. Insiders have sold 355,021 shares of company stock valued at $15,942,057 in the last three months. Corporate insiders own 53.10% of the company’s stock.

About Paylocity Holding Corporation

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

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Institutional Ownership by Quarter for Paylocity Holding Corporation (NASDAQ:PCTY)

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