Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc reduced its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,111 shares of the software maker’s stock after selling 33,374 shares during the period. Ensign Peak Advisors Inc owned approximately 0.29% of Paylocity worth $31,738,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PCTY. Fred Alger Management LLC grew its stake in Paylocity by 4.9% during the 4th quarter. Fred Alger Management LLC now owns 65,528 shares of the software maker’s stock valued at $13,071,000 after purchasing an additional 3,078 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in Paylocity by 229.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,372 shares of the software maker’s stock valued at $18,226,000 after buying an additional 63,602 shares during the last quarter. Corton Capital Inc. increased its holdings in Paylocity by 8.5% in the 4th quarter. Corton Capital Inc. now owns 1,821 shares of the software maker’s stock worth $363,000 after buying an additional 143 shares during the period. Crestline Management LP purchased a new position in Paylocity during the 4th quarter worth approximately $3,184,000. Finally, Bayesian Capital Management LP acquired a new stake in Paylocity during the 4th quarter valued at approximately $818,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Up 0.6 %

PCTY stock opened at $194.61 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $187.64 and a two-hundred day moving average of $196.92. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 4.49 and a beta of 0.58.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating the consensus estimate of $2.09 by $0.34. The firm had revenue of $454.55 million during the quarter, compared to analysts’ expectations of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 earnings per share. As a group, analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and set a $235.00 target price (down from $265.00) on shares of Paylocity in a report on Friday, May 2nd. Citigroup decreased their price objective on shares of Paylocity from $246.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. BMO Capital Markets raised their target price on Paylocity from $210.00 to $226.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $270.00 price target on shares of Paylocity in a report on Tuesday, April 29th. Finally, Mizuho dropped their price objective on Paylocity from $245.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.00.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.91% of the stock is owned by insiders.

Paylocity 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.