ShearLink Capital LLC reduced its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 39.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,318 shares of the software maker’s stock after selling 124,000 shares during the quarter. Paylocity Holding Corporation accounts for approximately 3.8% of ShearLink Capital LLC’s investment portfolio, making the stock its 15th largest holding. ShearLink Capital LLC owned approximately 0.37% of Paylocity Holding Corporation worth $8,644,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Paylocity Holding Corporation by 3.8% in the second quarter. Vanguard Group Inc. now owns 2,070,015 shares of the software maker’s stock valued at $93,524,000 after acquiring an additional 75,709 shares in the last quarter. FMR LLC raised its holdings in shares of Paylocity Holding Corporation by 5.2% in the second quarter. FMR LLC now owns 1,963,017 shares of the software maker’s stock valued at $88,689,000 after acquiring an additional 97,368 shares in the last quarter. Janus Capital Management LLC raised its holdings in shares of Paylocity Holding Corporation by 6.5% in the first quarter. Janus Capital Management LLC now owns 719,840 shares of the software maker’s stock valued at $27,807,000 after acquiring an additional 43,791 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of 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 acquiring an additional 167,919 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Paylocity Holding Corporation by 70.1% in the second quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock valued at $24,643,000 after acquiring an additional 224,771 shares in the last quarter. Hedge funds and other institutional investors own 60.87% of the company’s stock.

In other news, VP Michael R. Haske sold 88,600 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $45.21, for a total transaction of $4,005,606.00. Following the sale, the vice president now owns 1,189,606 shares of the company’s stock, valued at approximately $53,782,087.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Edward W. Gaty sold 5,185 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $48.92, for a total value of $253,650.20. Following the sale, the senior vice president now directly owns 116,135 shares in the company, valued at approximately $5,681,324.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,510,185 shares of company stock worth $68,035,096 in the last three months. Corporate insiders own 53.10% of the company’s stock.

Several analysts recently weighed in on PCTY shares. Royal Bank Of Canada lifted their price objective on Paylocity Holding Corporation from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Needham & Company LLC lifted their price objective on Paylocity Holding Corporation from $46.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, May 25th. ValuEngine upgraded Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. SunTrust Banks, Inc. started coverage on Paylocity Holding Corporation in a report on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Zacks Investment Research downgraded Paylocity Holding Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 4th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $51.46.

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Shares of Paylocity Holding Corporation (NASDAQ:PCTY) traded down 0.79% during trading on Thursday, reaching $46.59. 40,583 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $46.35 and a 200 day moving average price of $43.71. Paylocity Holding Corporation has a 12-month low of $29.69 and a 12-month high of $49.65. The company has a market capitalization of $2.41 billion, a P/E ratio of 388.25 and a beta of 2.25.

Paylocity Holding Corporation (NASDAQ:PCTY) last issued its earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The business had revenue of $76.10 million for the quarter, compared to analyst estimates of $73.79 million. During the same quarter last year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 27.3% on a year-over-year basis. Equities analysts expect that Paylocity Holding Corporation will post $0.79 EPS for the current fiscal year.

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.

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

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