Paylocity Holding Co. (NASDAQ:PCTY) Stock Holdings Decreased by Amalgamated Bank

Amalgamated Bank decreased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 29,099 shares of the software maker’s stock after selling 588 shares during the quarter. Amalgamated Bank’s holdings in Paylocity were worth $4,797,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new position in shares of Paylocity in the fourth quarter valued at approximately $36,000. RiverPark Advisors LLC acquired a new position in shares of Paylocity during the 3rd quarter valued at $43,000. Signaturefd LLC raised its stake in shares of Paylocity by 115.5% in the 3rd quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock worth $91,000 after buying an additional 269 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Paylocity by 18.6% in the third quarter. Covestor Ltd now owns 836 shares of the software maker’s stock valued at $152,000 after buying an additional 131 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in Paylocity during the third quarter valued at about $192,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $169.09 on Wednesday. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 3.63 and a beta of 0.88. The business has a 50 day simple moving average of $165.32 and a 200 day simple moving average of $162.67. Paylocity Holding Co. has a 52 week low of $139.40 and a 52 week high of $230.52.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The business had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. On average, analysts predict that Paylocity Holding Co. will post 3.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PCTY shares. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price target on shares of Paylocity in a report on Friday, May 3rd. TD Cowen reduced their target price on shares of Paylocity from $188.00 to $180.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Barclays raised their price objective on Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Truist Financial decreased their target price on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 9th. Finally, Citigroup boosted their target price on shares of Paylocity from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and an average target price of $196.67.

Insider Buying and Selling

In related news, CEO Steven R. Beauchamp sold 7,760 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the completion of the sale, the chief executive officer now owns 1,746,468 shares in the company, valued at approximately $291,572,832.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Katherine Ross sold 491 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total value of $82,630.39. Following the completion of the sale, the senior vice president now owns 15,353 shares in the company, valued at $2,583,756.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven R. Beauchamp sold 7,760 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $166.95, for a total value of $1,295,532.00. Following the transaction, the chief executive officer now owns 1,746,468 shares in the company, valued at $291,572,832.60. The disclosure for this sale can be found here. Insiders have sold 54,547 shares of company stock worth $9,356,359 in the last quarter. 22.50% of the stock is currently owned by company insiders.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.