Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,415 shares of the software maker’s stock after selling 368 shares during the period. Cetera Investment Advisers’ holdings in Paylocity were worth $1,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Rothschild Investment LLC purchased a new position in Paylocity in the 2nd quarter valued at approximately $40,000. J.Safra Asset Management Corp boosted its position in Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after buying an additional 108 shares during the period. GAMMA Investing LLC boosted its position in Paylocity by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after buying an additional 78 shares during the period. RiverPark Advisors LLC boosted its position in Paylocity by 152.0% in the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $66,000 after buying an additional 231 shares during the period. Finally, Versant Capital Management Inc purchased a new position in Paylocity in the 2nd quarter valued at approximately $66,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent research reports. KeyCorp raised their price target on shares of Paylocity from $171.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Robert W. Baird reduced their price objective on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Mizuho raised their price objective on shares of Paylocity from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a report on Thursday, September 5th. Finally, Piper Sandler reduced their price objective on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.40.

Insider Buying and Selling at Paylocity

In other news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the sale, the chief executive officer now directly owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,232 shares of company stock worth $7,183,315. 22.50% of the stock is owned by company insiders.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $169.04 on Wednesday. The firm has a market capitalization of $9.54 billion, a P/E ratio of 49.14, a P/E/G ratio of 3.96 and a beta of 0.95. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $205.48. The company’s fifty day moving average price is $159.83 and its 200 day moving average price is $154.16.

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

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.