Park Avenue Securities LLC Sells 1,289 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Park Avenue Securities LLC trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 27.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,423 shares of the software maker’s stock after selling 1,289 shares during the period. Park Avenue Securities LLC’s holdings in Paylocity were worth $565,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. FORA Capital LLC bought a new stake in shares of Paylocity in the first quarter valued at about $1,540,000. Royal London Asset Management Ltd. acquired a new position in Paylocity during the 4th quarter worth approximately $1,938,000. BNP Paribas Financial Markets grew its stake in shares of Paylocity by 55.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock worth $6,328,000 after acquiring an additional 13,093 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Paylocity in the first quarter valued at approximately $729,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after purchasing an additional 278,607 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PCTY shares. BTIG Research decreased their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Robert W. Baird decreased their price objective on Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a report on Tuesday, June 18th. TD Cowen lowered their target price on Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Truist Financial reduced their price target on Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Citigroup lowered their price target on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.07.

Paylocity Stock Performance

NASDAQ PCTY opened at $164.51 on Friday. The stock has a market cap of $9.14 billion, a PE ratio of 45.20, a P/E/G ratio of 3.96 and a beta of 0.95. The firm has a 50-day moving average of $159.06 and a 200-day moving average of $154.50. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $205.66.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share (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 during the quarter, compared to the consensus estimate of $350.29 million. During the same period last year, the business posted $0.76 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, analysts predict that Paylocity Holding Co. will post 4.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 1,745,022 shares in the company, valued at $248,979,738.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 31,074 shares in the company, valued at approximately $4,352,224.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,632 shares of company stock valued at $7,379,399. Insiders own 22.50% of the company’s stock.

About Paylocity

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.