US Bancorp DE reduced its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 9,771 shares of the software maker’s stock after selling 88 shares during the period. US Bancorp DE’s holdings in Paylocity Holding Corporation were worth $441,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its stake in Paylocity Holding Corporation by 54.1% in the first quarter. Parametric Portfolio Associates LLC now owns 49,432 shares of the software maker’s stock valued at $1,910,000 after buying an additional 17,364 shares during the period. TD Asset Management Inc. raised its stake in Paylocity Holding Corporation by 7.1% in the first quarter. TD Asset Management Inc. now owns 96,200 shares of the software maker’s stock valued at $3,716,000 after buying an additional 6,400 shares during the period. Swiss National Bank raised its stake in Paylocity Holding Corporation by 3.0% in the first quarter. Swiss National Bank now owns 38,250 shares of the software maker’s stock valued at $1,478,000 after buying an additional 1,100 shares during the period. Wrapmanager Inc. acquired a new stake in Paylocity Holding Corporation during the first quarter valued at $305,000. Finally, OLD National Bancorp IN acquired a new stake in Paylocity Holding Corporation during the first quarter valued at $436,000. 62.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of Paylocity Holding Corporation (NASDAQ PCTY) traded up 0.51% during trading on Friday, hitting $45.33. The stock had a trading volume of 95,383 shares. The company has a market capitalization of $2.35 billion, a PE ratio of 377.75 and a beta of 2.26. The firm has a 50-day moving average price of $45.64 and a 200 day moving average price of $41.63. Paylocity Holding Corporation has a 52 week low of $29.69 and a 52 week high of $49.65.
Paylocity Holding Corporation (NASDAQ:PCTY) last issued its earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The company had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. Paylocity Holding Corporation’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. Equities analysts anticipate that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
Several research firms recently weighed in on PCTY. ValuEngine raised Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. SunTrust Banks, Inc. assumed coverage on Paylocity Holding Corporation in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective on the stock. Zacks Investment Research downgraded Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. JMP Securities reiterated an “outperform” rating and issued a $54.00 target price on shares of Paylocity Holding Corporation in a research report on Tuesday, July 18th. Finally, BidaskClub downgraded Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Paylocity Holding Corporation currently has a consensus rating of “Hold” and a consensus price target of $51.17.
In related news, Director Steven I. Sarowitz sold 200,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $44.81, for a total transaction of $8,962,000.00. Following the completion of the sale, the director now directly owns 16,212,317 shares in the company, valued at approximately $726,473,924.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter J. Mcgrail sold 49,764 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $47.27, for a total value of $2,352,344.28. Following the sale, the chief financial officer now owns 227,475 shares of the company’s stock, valued at $10,752,743.25. The disclosure for this sale can be found here. Insiders have sold a total of 399,764 shares of company stock valued at $18,158,790 over the last 90 days. 53.10% of the stock is currently owned by company insiders.
Paylocity Holding Corporation Company Profile
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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