Bank of America Corp DE reduced its holdings in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 23.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,251 shares of the software maker’s stock after selling 64,768 shares during the period. Bank of America Corp DE owned about 0.40% of Paylocity worth $12,434,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cutler Group LP purchased a new stake in Paylocity during the 2nd quarter worth approximately $100,000. Summit Trail Advisors LLC increased its stake in Paylocity by 6,931.5% during the 1st quarter. Summit Trail Advisors LLC now owns 101,816 shares of the software maker’s stock worth $102,000 after buying an additional 100,368 shares during the period. NumerixS Investment Technologies Inc increased its stake in Paylocity by 2,000.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the software maker’s stock worth $124,000 after buying an additional 2,000 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Paylocity during the 2nd quarter worth approximately $200,000. Finally, Koch Industries Inc. purchased a new stake in Paylocity during the 1st quarter worth approximately $212,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.
In other Paylocity news, SVP Edward W. Gaty sold 7,614 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $78.90, for a total value of $600,744.60. Following the sale, the senior vice president now directly owns 126,392 shares of the company’s stock, valued at approximately $9,972,328.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Mark S. Kinsey sold 386 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $66.65, for a total transaction of $25,726.90. Following the completion of the sale, the senior vice president now directly owns 86,331 shares in the company, valued at $5,753,961.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,002,124 shares of company stock worth $65,904,551. Insiders own 48.80% of the company’s stock.
Shares of NASDAQ:PCTY opened at $65.72 on Friday. Paylocity Holding Corp has a 52 week low of $41.15 and a 52 week high of $88.47. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 212.00, a PEG ratio of 4.27 and a beta of 2.11.
Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 9th. The software maker reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). Paylocity had a net margin of 10.22% and a return on equity of 12.44%. The firm had revenue of $96.62 million during the quarter, compared to analysts’ expectations of $93.33 million. During the same period in the prior year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, research analysts forecast that Paylocity Holding Corp will post 0.75 earnings per share for the current year.
PCTY has been the topic of several recent research reports. BidaskClub downgraded shares of Paylocity from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Guggenheim initiated coverage on shares of Paylocity in a research note on Monday, August 20th. They set a “buy” rating and a $80.00 target price on the stock. Zacks Investment Research raised shares of Paylocity from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, August 14th. Raymond James reaffirmed a “buy” rating and set a $75.00 target price on shares of Paylocity in a research note on Monday, August 13th. Finally, Needham & Company LLC upped their target price on shares of Paylocity from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $69.71.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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