AlphaQuest LLC Cuts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

AlphaQuest LLC lessened its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 43.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,854 shares of the software maker’s stock after selling 2,168 shares during the quarter. AlphaQuest LLC’s holdings in Paylocity were worth $569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCTY. SBI Securities Co. Ltd. purchased a new stake in Paylocity in the 4th quarter worth $29,000. Prospera Private Wealth LLC purchased a new stake in Paylocity in the 3rd quarter worth $39,000. UMB Bank n.a. increased its holdings in 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 in the last quarter. Quarry LP increased its holdings in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Paylocity by 29.9% during 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 last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Down 0.2 %

NASDAQ PCTY opened at $186.53 on Thursday. The firm’s 50-day moving average is $202.45 and its two-hundred day moving average is $189.90. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $10.42 billion, a P/E ratio of 47.83, a PEG ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, sell-side analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. TD Cowen lowered their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stifel Nicolaus lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Piper Sandler reaffirmed 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. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the sale, the director now directly owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. This represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 29,187 shares of company stock worth $5,888,655. Company insiders own 21.91% of the company’s stock.

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.