KBC Group NV Sells 599 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

KBC Group NV cut its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 4.1% in the fourth quarter, HoldingsChannel reports. The fund owned 14,118 shares of the software maker’s stock after selling 599 shares during the period. KBC Group NV’s holdings in Paylocity were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after purchasing an additional 58 shares during the period. UMB Bank n.a. raised its holdings in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after acquiring an additional 82 shares during the period. Covestor Ltd raised its stake in Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after purchasing an additional 83 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven I. Sarowitz sold 12,226 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the transaction, the director now directly owns 9,300,847 shares in the company, valued at approximately $1,825,663,257.63. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey T. Diehl sold 29,606 shares of Paylocity stock in a transaction on 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 owns 11,755 shares in the company, valued at $2,310,445.25. This represents a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,486 shares of company stock valued at $31,751,368. 21.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PCTY shares. TD Cowen lowered their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Jefferies Financial Group boosted their target price on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays raised their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and raised their target price for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 target price on shares of Paylocity in a report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $213.86.

Paylocity Price Performance

PCTY opened at $205.52 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $201.39 and a 200 day moving average of $179.00. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The stock has a market cap of $11.46 billion, a P/E ratio of 52.56, a PEG ratio of 4.98 and a beta of 0.93.

About Paylocity

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.