Amalgamated Bank Sells 1,533 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Amalgamated Bank cut its position in Paylocity Holding Co. (NASDAQ:PCTY) by 6.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,506 shares of the software maker’s stock after selling 1,533 shares during the period. Amalgamated Bank’s holdings in Paylocity were worth $2,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in Paylocity in the 2nd quarter worth approximately $40,000. J.Safra Asset Management Corp increased its holdings in shares of Paylocity by 80.0% in the 1st 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. GAMMA Investing LLC raised its stake in shares of Paylocity by 34.7% in the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after purchasing an additional 78 shares during the last quarter. RiverPark Advisors LLC lifted its holdings in shares of Paylocity by 152.0% during the first quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $66,000 after purchasing an additional 231 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new stake in shares of Paylocity during the second quarter valued at $66,000. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on PCTY shares. Truist Financial lowered their target price on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price 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. Barclays decreased their target price on shares of Paylocity from $160.00 to $156.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. TD Cowen dropped their price target on Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Finally, Jefferies Financial Group reduced their price objective on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.13.

Insider Buying and Selling

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

Paylocity Price Performance

PCTY opened at $164.19 on Tuesday. The firm has a market cap of $9.27 billion, a P/E ratio of 47.73, a PEG ratio of 3.80 and a beta of 0.94. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $206.28. The company has a 50 day simple moving average of $154.49 and a two-hundred day simple moving average of $154.66.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.19. The business had revenue of $357.30 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. Equities analysts anticipate that Paylocity Holding Co. will post 4.51 earnings per share for the current 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.