Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,953 shares of the software maker’s stock after selling 2,717 shares during the period. Paylocity accounts for 0.8% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 25th largest position. Stanley Laman Group Ltd. owned 0.05% of Paylocity worth $5,775,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after purchasing an additional 36,590 shares during the period. JPMorgan Chase & Co. raised its position in Paylocity by 81.9% in the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after purchasing an additional 385,625 shares during the period. Janus Henderson Group PLC raised its position in Paylocity by 3.5% in the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after purchasing an additional 17,560 shares during the period. Point72 Asset Management L.P. raised its position in Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after purchasing an additional 229,057 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in Paylocity by 3.2% in the third quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock valued at $47,389,000 after purchasing an additional 8,878 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the topic of a number of research analyst reports. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and increased their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and set a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. TD Cowen decreased their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Jefferies Financial Group increased their target price on Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Trading Up 2.4 %

PCTY opened at $214.10 on Thursday. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The company has a market cap of $11.94 billion, a P/E ratio of 54.90, a PEG ratio of 5.19 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50-day simple moving average is $201.36 and its 200-day simple moving average is $182.58.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. As a group, equities research analysts expect that Paylocity Holding Co. will post 4.46 EPS for the current fiscal year.

Insider Activity

In related news, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $47,742.63. Following the transaction, the senior vice president now owns 14,634 shares in the company, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the transaction, the director now owns 8,332,347 shares in the company, valued at $1,667,635,928.58. This represents a 0.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,380 shares of company stock worth $25,830,669. 21.91% of the stock is currently owned by insiders.

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.