Riverbridge Partners LLC reduced its holdings in Paylocity Holding Corp (NASDAQ:PCTY) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 844,560 shares of the software maker’s stock after selling 60,484 shares during the quarter. Riverbridge Partners LLC’s holdings in Paylocity were worth $50,851,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in shares of Paylocity by 6.4% in the third quarter. Wells Fargo & Company MN now owns 14,809 shares of the software maker’s stock worth $1,189,000 after acquiring an additional 886 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of Paylocity by 8.0% in the second quarter. MetLife Investment Advisors LLC now owns 13,301 shares of the software maker’s stock worth $783,000 after acquiring an additional 989 shares in the last quarter. Granite Investment Partners LLC increased its holdings in shares of Paylocity by 9.8% in the third quarter. Granite Investment Partners LLC now owns 11,222 shares of the software maker’s stock worth $901,000 after acquiring an additional 1,003 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of Paylocity by 13.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,895 shares of the software maker’s stock worth $582,000 after acquiring an additional 1,166 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Paylocity by 8.3% during the third quarter. AQR Capital Management LLC now owns 16,041 shares of the software maker’s stock worth $1,288,000 after buying an additional 1,227 shares in the last quarter. Institutional investors own 63.91% of the company’s stock.
In other Paylocity news, SVP Edward W. Gaty sold 5,609 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $67.65, for a total transaction of $379,448.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael R. Haske sold 25,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $66.58, for a total value of $1,664,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,109 shares of company stock worth $11,527,499. Corporate insiders own 41.20% of the company’s stock.
Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, November 1st. The software maker reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. Paylocity had a return on equity of 12.35% and a net margin of 12.08%. The firm had revenue of $100.50 million for the quarter, compared to analyst estimates of $98.37 million. During the same quarter last year, the company earned $0.15 EPS. The company’s revenue was up 23.3% on a year-over-year basis. On average, equities analysts expect that Paylocity Holding Corp will post 0.59 earnings per share for the current year.
A number of research analysts recently issued reports on the company. Bank of America increased their price objective on Paylocity from $73.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. BidaskClub raised Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. Zacks Investment Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine cut Paylocity from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Finally, Robert W. Baird raised their price objective on Paylocity from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, November 2nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $68.36.
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Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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