ProShare Advisors LLC Sells 68 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

ProShare Advisors LLC trimmed its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,249 shares of the software maker’s stock after selling 68 shares during the quarter. ProShare Advisors LLC’s holdings in Paylocity were worth $297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ increased its position in Paylocity by 1,662.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock valued at $23,986,000 after buying an additional 171,597 shares in the last quarter. King Luther Capital Management Corp increased its holdings in shares of Paylocity by 1.0% during the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock valued at $1,316,000 after acquiring an additional 103 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Paylocity during the second quarter worth approximately $1,569,000. Intech Investment Management LLC lifted its holdings in shares of Paylocity by 381.3% in the 2nd quarter. Intech Investment Management LLC now owns 9,419 shares of the software maker’s stock worth $1,242,000 after purchasing an additional 7,462 shares in the last quarter. Finally, XTX Topco Ltd grew its position in Paylocity by 353.7% in the 2nd quarter. XTX Topco Ltd now owns 7,936 shares of the software maker’s stock valued at $1,046,000 after purchasing an additional 6,187 shares during the period. 94.76% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

PCTY has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird dropped their price target on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. TD Cowen decreased their price objective on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Barclays dropped their target price on Paylocity from $160.00 to $156.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, KeyCorp upped their price target on Paylocity from $171.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.87.

Paylocity Stock Performance

PCTY opened at $166.85 on Friday. The firm has a market cap of $9.27 billion, a P/E ratio of 48.50, a PEG ratio of 3.91 and a beta of 0.94. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $206.28. The firm has a 50-day moving average of $157.45 and a 200 day moving average of $154.67.

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

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.