Xponance Inc. Reduces Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Xponance Inc. lowered its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,228 shares of the software maker’s stock after selling 539 shares during the period. Xponance Inc.’s holdings in Paylocity were worth $1,521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PCTY. Allspring Global Investments Holdings LLC purchased a new stake in shares of Paylocity in the 4th quarter worth about $82,172,000. Liontrust Investment Partners LLP purchased a new stake in shares of Paylocity in the 3rd quarter worth about $90,181,000. Comerica Bank purchased a new stake in shares of Paylocity in the 3rd quarter worth about $18,506,000. Westfield Capital Management Co. LP lifted its position in shares of Paylocity by 26.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock worth $85,856,000 after purchasing an additional 99,781 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Paylocity in the 3rd quarter worth about $17,262,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the transaction, the director now owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Steven I. Sarowitz sold 24,504 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the transaction, the director now owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven R. Beauchamp sold 7,760 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,746,468 shares in the company, valued at approximately $291,572,832.60. The disclosure for this sale can be found here. Insiders have sold 54,547 shares of company stock valued at $9,356,359 over the last 90 days. 22.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a research report on Monday, January 22nd. Jefferies Financial Group reiterated a “hold” rating and issued a $180.00 price target (down from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Truist Financial decreased their price target on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Citigroup increased their price target on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Finally, Piper Sandler increased their price target on shares of Paylocity from $207.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Paylocity Trading Down 0.4 %

PCTY opened at $158.88 on Wednesday. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 53.68, a PEG ratio of 3.46 and a beta of 0.87. The company’s 50 day moving average is $168.25 and its 200 day moving average is $165.49. Paylocity Holding Co. has a 12-month low of $139.40 and a 12-month high of $230.52.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The company had revenue of $326.36 million for the quarter, compared to the consensus estimate of $324.34 million. As a group, analysts predict that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

About Paylocity

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.