TD Asset Management Inc Sells 20,324 Shares of Paylocity Holding Corporation $PCTY

TD Asset Management Inc trimmed its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266,740 shares of the software maker’s stock after selling 20,324 shares during the period. TD Asset Management Inc owned 0.49% of Paylocity worth $42,484,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Paylocity by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after buying an additional 7,594 shares during the last quarter. Focus Partners Wealth grew its position in shares of Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after buying an additional 269 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Paylocity during the 2nd quarter worth approximately $256,000. Envestnet Asset Management Inc. lifted its position in Paylocity by 5.1% during the second quarter. Envestnet Asset Management Inc. now owns 143,842 shares of the software maker’s stock valued at $26,063,000 after acquiring an additional 6,976 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Paylocity in the second quarter valued at approximately $815,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Mizuho reduced their price target on Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. BTIG Research reduced their target price on Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Citizens Jmp lowered their price target on Paylocity from $245.00 to $170.00 and set a “market outperform” rating for the company in a report on Friday, February 6th. Weiss Ratings downgraded shares of Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 27th. Finally, Stifel Nicolaus decreased their price objective on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.05.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $106.49 on Friday. Paylocity Holding Corporation has a twelve month low of $100.50 and a twelve month high of $210.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. The company has a market cap of $5.74 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 3.24 and a beta of 0.54. The company’s 50 day moving average is $133.01 and its 200 day moving average is $148.90.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The firm had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. During the same quarter in the prior year, the business earned $1.52 earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Paylocity Company Profile

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.