Hel Ved Capital Management Ltd Sells 8,235 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Hel Ved Capital Management Ltd lowered its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 59.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,505 shares of the software maker’s stock after selling 8,235 shares during the period. Hel Ved Capital Management Ltd’s holdings in Paylocity were worth $1,098,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCTY. SBI Securities Co. Ltd. bought a new stake in Paylocity in the 4th quarter worth approximately $29,000. UMB Bank n.a. lifted its holdings in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after acquiring an additional 72 shares during the last quarter. Quarry LP boosted its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCTY. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and raised their price objective for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Needham & Company LLC lifted their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Stifel Nicolaus increased their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. UBS Group lifted their target price on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Barclays increased their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the transaction, the director now owns 420,000 shares in the company, valued at $81,862,200. The trade was a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $174.88 on Friday. The company’s fifty day moving average price is $199.66 and its 200-day moving average price is $193.20. The stock has a market cap of $9.77 billion, a PE ratio of 44.84, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, equities analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Paylocity Company Profile

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.