Van Berkom & Associates Inc. Sells 102,420 Shares of Paylocity Holding Corporation $PCTY

Van Berkom & Associates Inc. lessened its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 18.1% in the third quarter, Holdings Channel reports. The firm owned 463,399 shares of the software maker’s stock after selling 102,420 shares during the period. Paylocity accounts for 2.4% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 17th biggest position. Van Berkom & Associates Inc.’s holdings in Paylocity were worth $66,067,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in PCTY. BlackRock Inc. purchased a new stake in shares of Paylocity during the 2nd quarter valued at about $430,315,000. Jupiter Topco LLC bought a new position in Paylocity during the 2nd quarter valued at $70,540,000. Amundi increased its position in shares of Paylocity by 9.5% in the 2nd quarter. Amundi now owns 663,449 shares of the software maker’s stock worth $69,350,000 after purchasing an additional 57,291 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Paylocity in the 2nd quarter valued at about $54,906,000. Finally, Bank of America Corp DE acquired a new stake in shares of Paylocity in the 2nd quarter valued at about $54,867,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 19,459 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $157.78, for a total value of $3,070,241.02. Following the sale, the director owned 4,453,495 shares in the company, valued at approximately $702,672,441.10. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Steven Beauchamp sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $165.22, for a total transaction of $2,478,300.00. Following the completion of the sale, the chairman owned 1,243,389 shares in the company, valued at $205,432,730.58. The trade was a 1.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,704 shares of company stock valued at $25,137,741 over the last three months. 20.10% of the stock is currently owned by company insiders.

Paylocity Stock Performance

PCTY stock opened at $177.81 on Tuesday. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $181.57. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.03 and a beta of 0.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s fifty day moving average is $156.50 and its two-hundred day moving average is $127.63.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, November 5th. The software maker reported $2.09 EPS for the quarter, topping the consensus estimate of $1.93 by $0.16. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business had revenue of $451.67 million during the quarter, compared to analyst estimates of $443.12 million. During the same quarter in the prior year, the firm earned $1.75 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, research analysts predict that Paylocity Holding Corporation will post 6.94 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on PCTY. BTIG Research lifted their price target on Paylocity from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday. Guggenheim upped their price objective on Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Citigroup increased their target price on Paylocity from $208.00 to $214.00 and gave the stock a “buy” rating in a report on Monday. Citizens Jmp lifted their target price on Paylocity from $180.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday. Finally, Robert W. Baird set a $201.00 price target on Paylocity in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.82.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations.

Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.

Founded in 1997 by Steve Sarowitz, Paylocity is headquartered in Schaumburg, Illinois.