Voya Investment Management LLC Sells 12,593 Shares of Paylocity Holding Corporation $PCTY

Voya Investment Management LLC cut its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 35.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,864 shares of the software maker’s stock after selling 12,593 shares during the period. Voya Investment Management LLC’s holdings in Paylocity were worth $3,642,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Paylocity by 4.0% in the 2nd quarter. American Century Companies Inc. now owns 534,843 shares of the software maker’s stock valued at $96,909,000 after purchasing an additional 20,649 shares during the period. AQR Capital Management LLC raised its position in shares of Paylocity by 500.6% in the second quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after buying an additional 375,023 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Paylocity by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 434,789 shares of the software maker’s stock valued at $78,779,000 after buying an additional 5,623 shares during the period. Qube Research & Technologies Ltd grew its position in Paylocity by 120.3% during the second quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock worth $62,042,000 after buying an additional 186,952 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Paylocity by 80.3% during the second quarter. Bank of America Corp DE now owns 289,553 shares of the software maker’s stock worth $52,464,000 after buying an additional 128,972 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

Paylocity stock opened at $153.65 on Friday. The stock has a market cap of $8.36 billion, a PE ratio of 38.51, a P/E/G ratio of 4.48 and a beta of 0.57. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12-month low of $135.46 and a 12-month high of $223.80. The business’s 50-day moving average price is $147.59 and its two-hundred day moving average price is $164.93.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $408.17 million for the quarter, compared to the consensus estimate of $399.53 million. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $1.66 EPS. As a group, analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Paylocity news, CFO Ryan Glenn sold 1,737 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total transaction of $249,520.05. Following the sale, the chief financial officer owned 77,229 shares of the company’s stock, valued at approximately $11,093,945.85. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of recent analyst reports. Zacks Research upgraded Paylocity from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. TD Cowen dropped their price target on Paylocity from $192.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Guggenheim raised shares of Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Monday, November 10th. Barclays decreased their target price on shares of Paylocity from $195.00 to $175.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, JMP Securities set a $245.00 price target on shares of Paylocity in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $204.32.

About Paylocity

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.