Vanguard Group Inc. Sells 56,613 Shares of Paylocity Holding Corporation $PCTY

Vanguard Group Inc. lessened its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 1.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,161,169 shares of the software maker’s stock after selling 56,613 shares during the period. Vanguard Group Inc. owned about 0.08% of Paylocity worth $634,578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCTY. Flagship Harbor Advisors LLC acquired a new position in shares of Paylocity in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB raised its stake in Paylocity by 363.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after buying an additional 149 shares during the period. Advisory Services Network LLC bought a new stake in Paylocity during the third quarter worth $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Paylocity in the 3rd quarter worth $41,000. Finally, Allworth Financial LP boosted its holdings in Paylocity by 88.0% during the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after purchasing an additional 132 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Price Performance

PCTY opened at $109.60 on Monday. The company has a market cap of $5.91 billion, a P/E ratio of 25.79, a P/E/G ratio of 3.17 and a beta of 0.49. The business’s 50-day moving average price is $106.90 and its 200-day moving average price is $129.76. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $201.97.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. The firm had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 earnings per share. On average, equities analysts expect that Paylocity Holding Corporation will post 5.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on Paylocity from $185.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, February 6th. KeyCorp decreased their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. Jefferies Financial Group dropped their price objective on Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Stephens set a $160.00 price objective on Paylocity in a report on Friday, January 16th. Finally, Truist Financial dropped their price objective on Paylocity from $240.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Fourteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $172.72.

Paylocity Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.