Fisher Asset Management LLC Cuts Holdings in Paylocity Holding Corporation $PCTY

Fisher Asset Management LLC lowered its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 92.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,268 shares of the software maker’s stock after selling 87,462 shares during the quarter. Fisher Asset Management LLC’s holdings in Paylocity were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in shares of Paylocity by 9.8% in the 1st quarter. Cetera Investment Advisers now owns 11,370 shares of the software maker’s stock worth $2,130,000 after purchasing an additional 1,017 shares during the period. LPL Financial LLC grew its holdings in shares of Paylocity by 21.1% during the 1st quarter. LPL Financial LLC now owns 23,140 shares of the software maker’s stock worth $4,167,000 after purchasing an additional 4,033 shares during the period. Vanguard Group Inc. raised its holdings in Paylocity by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker’s stock valued at $807,966,000 after buying an additional 283,430 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Paylocity by 4.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 297,558 shares of the software maker’s stock valued at $55,745,000 after buying an additional 12,002 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in Paylocity by 41.8% during the first quarter. Chicago Partners Investment Group LLC now owns 3,109 shares of the software maker’s stock worth $571,000 after buying an additional 917 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 1,737 shares of Paylocity stock in a transaction dated 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 directly owned 77,229 shares in the company, valued at $11,093,945.85. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.40% of the company’s stock.

Paylocity Stock Performance

PCTY stock opened at $146.52 on Friday. The company has a current ratio of 1.07, a quick 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 stock’s 50 day simple moving average is $148.54 and its 200 day simple moving average is $169.43. The firm has a market cap of $7.97 billion, a P/E ratio of 36.72, a P/E/G ratio of 4.34 and a beta of 0.57.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group cut their target price on shares of Paylocity from $225.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Cowen reissued a “buy” rating on shares of Paylocity in a research report on Monday, October 6th. BMO Capital Markets decreased their target price on Paylocity from $200.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. JMP Securities set a $245.00 target price on Paylocity in a report on Wednesday, November 5th. Finally, Citizens Jmp decreased their price target on Paylocity from $270.00 to $245.00 and set a “market outperform” rating for the company in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $207.83.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.