Franklin Resources Inc. Sells 188 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Franklin Resources Inc. lowered its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,535 shares of the software maker’s stock after selling 188 shares during the quarter. Franklin Resources Inc.’s holdings in Paylocity were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of PCTY. Geode Capital Management LLC grew its position in Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after buying an additional 36,590 shares during the period. Van Berkom & Associates Inc. increased its stake in shares of Paylocity by 20.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after purchasing an additional 98,478 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after purchasing an additional 17,560 shares during the period. Dimensional Fund Advisors LP lifted its stake in Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after purchasing an additional 123,744 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after purchasing an additional 269,354 shares during the period. 94.76% of the stock is owned by institutional investors.

Paylocity Stock Performance

Paylocity stock opened at $199.47 on Thursday. The company has a market capitalization of $11.12 billion, a PE ratio of 51.02, a P/E/G ratio of 4.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The company has a 50 day moving average price of $200.05 and a 200-day moving average price of $169.43.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PCTY. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Needham & Company LLC increased their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays lifted their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Truist Financial raised their target price on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, TD Cowen boosted their price target on shares of Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 15,444 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the completion of the transaction, the director now owns 9,272,906 shares of the company’s stock, valued at $1,812,204,019.58. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,886 shares of company stock valued at $31,231,004 in the last quarter. 21.91% of the stock is currently owned by corporate insiders.

Paylocity 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.