Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,604 shares of the software maker’s stock after selling 240 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Paylocity were worth $11,683,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $254.00 price objective (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Mizuho reduced their price objective on Paylocity from $245.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Scotiabank assumed coverage on shares of Paylocity in a research note on Wednesday, April 16th. They set a “sector perform” rating and a $190.00 target price on the stock. UBS Group raised their price target on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Raymond James reiterated an “outperform” rating and issued a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.24.

Paylocity Trading Down 2.4 %

Shares of PCTY stock opened at $179.52 on Tuesday. The company has a 50-day moving average of $193.01 and a two-hundred day moving average of $195.08. The firm has a market cap of $10.03 billion, a PE ratio of 46.03, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

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

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction that occurred on Thursday, March 20th. The shares were 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 in the company, valued at approximately $89,856,332. The trade was 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 hyperlink. 21.91% of the stock is currently owned by company insiders.

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.