Motley Fool Asset Management LLC Cuts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Motley Fool Asset Management LLC lowered its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 1.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,124 shares of the software maker’s stock after selling 643 shares during the period. Motley Fool Asset Management LLC owned 0.08% of Paylocity worth $7,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC boosted its stake in Paylocity by 18.1% during the 3rd quarter. CWM LLC now owns 412 shares of the software maker’s stock valued at $75,000 after purchasing an additional 63 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Paylocity by 2.4% during the 4th quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker’s stock valued at $531,000 after purchasing an additional 76 shares during the last quarter. Shaker Investments LLC OH boosted its stake in Paylocity by 0.3% during the 4th quarter. Shaker Investments LLC OH now owns 23,672 shares of the software maker’s stock valued at $3,902,000 after purchasing an additional 77 shares during the last quarter. Seven Eight Capital LP boosted its stake in Paylocity by 4.9% during the 3rd quarter. Seven Eight Capital LP now owns 1,658 shares of the software maker’s stock valued at $301,000 after purchasing an additional 78 shares during the last quarter. Finally, Leelyn Smith LLC boosted its stake in Paylocity by 1.6% during the 3rd quarter. Leelyn Smith LLC now owns 5,640 shares of the software maker’s stock valued at $1,025,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of PCTY traded up $0.42 during mid-day trading on Thursday, reaching $156.58. 363,834 shares of the company’s stock traded hands, compared to its average volume of 463,499. The stock has a market cap of $8.82 billion, a P/E ratio of 52.90, a P/E/G ratio of 3.44 and a beta of 0.87. The stock’s 50-day moving average is $167.57 and its two-hundred day moving average is $165.36. Paylocity Holding Co. has a 12 month low of $139.40 and a 12 month high of $230.52.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. The company had revenue of $326.36 million for the quarter, compared to analysts’ expectations of $324.34 million. Research analysts predict that Paylocity Holding Co. will post 3.48 earnings per share for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the sale, the director now owns 14,704 shares in the company, valued at $2,523,794.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the sale, the director now owns 14,704 shares in the company, valued at approximately $2,523,794.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine Ross sold 491 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total value of $82,630.39. Following the sale, the senior vice president now owns 15,353 shares of the company’s stock, valued at approximately $2,583,756.37. The disclosure for this sale can be found here. Insiders sold a total of 54,547 shares of company stock worth $9,356,359 over the last 90 days. Company insiders own 22.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating and set a $180.00 price target (down from $240.00) on shares of Paylocity in a report on Friday, January 5th. Citigroup raised their target price on Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Paylocity in a report on Friday, February 9th. Truist Financial decreased their target price on Paylocity from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 9th. Finally, Mizuho decreased their target price on Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.