DekaBank Deutsche Girozentrale Sells 195 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.1% during the 3rd quarter, Holdings Channel reports. The fund owned 6,148 shares of the software maker’s stock after selling 195 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Paylocity were worth $988,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in Paylocity by 55.2% during the first quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock valued at $6,328,000 after buying an additional 13,093 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Paylocity by 12.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,343 shares of the software maker’s stock worth $1,090,000 after acquiring an additional 708 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Paylocity by 3.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock worth $498,000 after purchasing an additional 100 shares during the last quarter. FORA Capital LLC bought a new stake in Paylocity during the first quarter valued at about $1,540,000. Finally, Central Pacific Bank Trust Division purchased a new position in Paylocity in the first quarter valued at about $219,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 3.9 %

NASDAQ PCTY opened at $191.76 on Friday. The company has a fifty day moving average of $165.67 and a 200 day moving average of $155.07. The company has a market capitalization of $10.69 billion, a PE ratio of 49.04, a P/E/G ratio of 4.46 and a beta of 0.93. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $192.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.13.

Paylocity (NASDAQ:PCTY) last posted its 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. The firm had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. Paylocity had a return on equity of 22.92% and a net margin of 15.32%. Paylocity’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. Research analysts forecast that Paylocity Holding Co. will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares in the company, valued at $6,474,772.12. 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. Insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PCTY. Piper Sandler increased their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday. Mizuho increased their target price on shares of Paylocity from $155.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. KeyCorp lifted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday. BTIG Research lowered their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC upped their target price on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.87.

Paylocity Company 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.