Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 4.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 472,686 shares of the software maker’s stock after buying an additional 21,127 shares during the quarter. Bank of New York Mellon Corp’s holdings in Paylocity were worth $62,324,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PCTY. Fifth Third Wealth Advisors LLC purchased a new stake in Paylocity during the 2nd quarter worth about $185,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Paylocity by 26,132.2% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,477 shares of the software maker’s stock worth $2,046,000 after buying an additional 15,418 shares during the period. Neo Ivy Capital Management acquired a new stake in Paylocity in the second quarter valued at approximately $3,014,000. Washington Capital Management Inc. lifted its stake in Paylocity by 62.6% in the second quarter. Washington Capital Management Inc. now owns 5,530 shares of the software maker’s stock worth $729,000 after acquiring an additional 2,130 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Paylocity by 2.9% during the 2nd quarter. SG Americas Securities LLC now owns 5,843 shares of the software maker’s stock worth $770,000 after acquiring an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Citigroup decreased their price target on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. BTIG Research dropped their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. KeyCorp decreased their target price on Paylocity from $200.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Finally, Jefferies Financial Group dropped their price target on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $179.13.

Paylocity Stock Down 0.5 %

Shares of Paylocity stock opened at $161.40 on Friday. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 46.92, a price-to-earnings-growth ratio of 3.73 and a beta of 0.92. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $206.28. The company’s 50-day simple moving average is $146.51 and its 200-day simple moving average is $156.17.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.19. The company had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Equities research analysts anticipate that Paylocity Holding Co. will post 4.5 EPS for the current year.

Insiders Place Their Bets

In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the sale, the chief financial officer now directly owns 31,074 shares in the company, valued at approximately $4,352,224.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the transaction, the chief accounting officer now directly owns 4,751 shares of the company’s stock, valued at approximately $659,106.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the sale, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,173 shares of company stock worth $7,296,388. 22.50% of the stock is owned by corporate insiders.

Paylocity 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.