Cambridge Investment Research Advisors Inc. lowered its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,567 shares of the software maker’s stock after selling 413 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Paylocity were worth $1,146,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of PCTY. IFP Advisors Inc acquired a new stake in shares of Paylocity during the fourth quarter worth about $27,000. Exchange Traded Concepts LLC acquired a new stake in shares of Paylocity during the fourth quarter worth about $42,000. Capstone Triton Financial Group LLC purchased a new position in shares of Paylocity during the fourth quarter worth about $43,000. Bainco International Investors purchased a new position in shares of Paylocity during the fourth quarter worth about $66,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Paylocity by 138.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 513 shares of the software maker’s stock worth $88,000 after buying an additional 298 shares during the last quarter. Institutional investors and hedge funds own 68.69% of the company’s stock.
A number of equities analysts recently issued reports on the company. Smith Barney Citigroup raised their price target on Paylocity from $209.00 to $210.00 in a report on Tuesday, December 22nd. Needham & Company LLC raised their price target on Paylocity from $170.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Raymond James raised their price target on Paylocity from $210.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 5th. Truist raised their price target on Paylocity from $155.00 to $200.00 in a report on Monday, November 9th. Finally, Craig Hallum lowered Paylocity from a “buy” rating to a “hold” rating and lifted their price objective for the company from $156.00 to $180.00 in a report on Friday, November 6th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Paylocity has an average rating of “Buy” and a consensus target price of $191.88.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Wednesday, February 3rd. The software maker reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.14. Paylocity had a return on equity of 16.89% and a net margin of 11.05%. The firm had revenue of $146.33 million during the quarter, compared to the consensus estimate of $143.47 million. On average, equities analysts anticipate that Paylocity Holding Co. will post 0.76 earnings per share for the current year.
In related news, Director Steven I. Sarowitz sold 400,000 shares of Paylocity stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $180.50, for a total transaction of $72,200,000.00. Following the completion of the transaction, the director now directly owns 12,770,538 shares in the company, valued at approximately $2,305,082,109. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 32.90% of the company’s stock.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll module that enables clients to automate key payroll processes and manage compliance; Core HR module, which provides a set of HR capabilities enabling clients to manage HR data; and Talent module that enable clients to manage their talent throughout employees' tenures, starting at recruiting and carrying through onboarding, learning, and performance management.
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