Xponance Inc. Has $1.43 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Xponance Inc. trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,823 shares of the software maker’s stock after selling 290 shares during the period. Xponance Inc.’s holdings in Paylocity were worth $1,427,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PCTY. Rothschild Investment LLC bought a new stake in shares of Paylocity during the second quarter worth approximately $40,000. J.Safra Asset Management Corp raised its stake in shares of Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Paylocity by 34.7% during the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after buying an additional 78 shares during the last quarter. RiverPark Advisors LLC raised its stake in shares of Paylocity by 152.0% during the first quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after buying an additional 231 shares during the last quarter. Finally, Versant Capital Management Inc bought a new stake in shares of Paylocity during the second quarter worth approximately $66,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PCTY. Truist Financial lowered their target price on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird lowered their target price on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Citigroup lowered their target price on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. KeyCorp lowered their target price on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $179.13.

Paylocity Stock Down 1.1 %

Paylocity stock opened at $161.39 on Friday. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $206.28. The company has a 50 day moving average of $155.45 and a 200-day moving average of $154.78. The stock has a market capitalization of $9.11 billion, a PE ratio of 46.92, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, topping the consensus estimate of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The business had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $350.29 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. Equities analysts anticipate that Paylocity Holding Co. will post 4.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ryan Glenn sold 1,400 shares of the 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 completion of the transaction, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the sale, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,974 shares of company stock worth $7,272,256. 22.50% of the stock is owned by 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.