Blair William & Co. IL Reduces Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Blair William & Co. IL decreased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 126,424 shares of the software maker’s stock after selling 5,491 shares during the quarter. Blair William & Co. IL owned approximately 0.22% of Paylocity worth $16,669,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp increased its stake in shares of Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after purchasing an additional 108 shares in the last quarter. Principal Securities Inc. bought a new position in Paylocity in the 4th quarter worth approximately $41,000. Rothschild Investment LLC bought a new position in Paylocity in the 2nd quarter worth approximately $40,000. GAMMA Investing LLC raised its holdings in Paylocity by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after acquiring an additional 78 shares during the period. Finally, RiverPark Advisors LLC lifted its position 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 acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup decreased their price objective on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price target on shares of Paylocity in a research report on Thursday, September 5th. Stifel Nicolaus cut their price objective on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. BTIG Research decreased their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Jefferies Financial Group cut their price target on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.13.

Insiders Place Their Bets

In other news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’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 transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The disclosure for this sale can be found here. 22.50% of the stock is currently owned by insiders.

Paylocity Trading Up 1.6 %

Shares of Paylocity stock opened at $163.37 on Friday. The firm has a market capitalization of $9.22 billion, a PE ratio of 47.49, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $206.28. The business’s 50-day moving average price is $153.69 and its 200-day moving average price is $154.89.

Paylocity (NASDAQ:PCTY) last posted its quarterly 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 firm had revenue of $357.30 million for the quarter, compared to the consensus estimate of $350.29 million. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. As a group, analysts predict that Paylocity Holding Co. will post 4.51 earnings per share for the current fiscal year.

Paylocity Company 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.