Capital International Investors Cuts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Capital International Investors trimmed its position in Paylocity Holding Co. (NASDAQ:PCTY) by 17.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,164,066 shares of the software maker’s stock after selling 246,007 shares during the quarter. Capital International Investors owned approximately 2.09% of Paylocity worth $232,196,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PCTY. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity in the 4th quarter valued at $29,000. UMB Bank n.a. boosted its stake in Paylocity by 41.1% in 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after purchasing an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after purchasing an additional 116 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of research reports. Scotiabank started coverage on Paylocity in a research note on Wednesday. They issued a “sector perform” rating and a $190.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays upped their price objective on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, JMP Securities boosted their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $229.82.

Paylocity Price Performance

PCTY stock opened at $183.98 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $10.28 billion, a P/E ratio of 47.17, a PEG ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The stock’s 50 day moving average price is $193.70 and its 200 day moving average price is $194.82.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, sell-side analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 23,243 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the transaction, the director now owns 470,452 shares of the company’s stock, valued at approximately $89,856,332. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 21.91% of the stock is currently owned by corporate insiders.

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.