Susquehanna Fundamental Investments LLC Cuts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Susquehanna Fundamental Investments LLC cut its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 27.5% during the second quarter, Holdings Channel reports. The firm owned 7,436 shares of the software maker’s stock after selling 2,821 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Paylocity were worth $1,419,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in Paylocity by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,519,696 shares of the software maker’s stock worth $1,352,267,000 after purchasing an additional 339,043 shares during the period. BlackRock Inc. increased its stake in Paylocity by 1.9% during the first quarter. BlackRock Inc. now owns 3,632,025 shares of the software maker’s stock worth $653,146,000 after purchasing an additional 66,386 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Paylocity by 5.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,080,759 shares of the software maker’s stock worth $194,353,000 after purchasing an additional 51,334 shares during the period. Franklin Resources Inc. increased its stake in Paylocity by 3.3% during the first quarter. Franklin Resources Inc. now owns 1,079,418 shares of the software maker’s stock worth $194,111,000 after purchasing an additional 34,695 shares during the period. Finally, Fred Alger Management LLC increased its stake in shares of Paylocity by 6.2% during the first quarter. Fred Alger Management LLC now owns 920,726 shares of the software maker’s stock worth $165,574,000 after buying an additional 53,962 shares during the period. Institutional investors own 68.82% of the company’s stock.

In other news, Director Jeffrey T. Diehl sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $274.81, for a total transaction of $54,962.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 38,234 shares of the company’s stock in a transaction that occurred on Thursday, August 12th. The stock was sold at an average price of $252.21, for a total value of $9,642,997.14. Following the sale, the chief executive officer now owns 1,808,645 shares of the company’s stock, valued at approximately $456,158,355.45. The disclosure for this sale can be found here. Insiders sold 112,193 shares of company stock valued at $29,058,493 over the last three months. Corporate insiders own 32.90% of the company’s stock.

Shares of PCTY opened at $297.60 on Friday. The stock has a 50 day moving average price of $247.88 and a 200 day moving average price of $204.43. The company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 238.08 and a beta of 1.31. Paylocity Holding Co. has a 52-week low of $145.18 and a 52-week high of $298.63.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 5th. The software maker reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.39. Paylocity had a return on equity of 16.19% and a net margin of 11.14%. On average, equities research analysts predict that Paylocity Holding Co. will post 1.15 EPS for the current fiscal year.

PCTY has been the topic of a number of recent research reports. Citigroup restated a “neutral” rating and set a $203.71 target price (up from $194.00) on shares of Paylocity in a research note on Monday, July 26th. Piper Sandler upped their target price on shares of Paylocity from $184.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, August 6th. Mizuho upped their target price on shares of Paylocity from $175.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, August 9th. KeyCorp upped their target price on shares of Paylocity from $220.00 to $255.00 and gave the stock an “overweight” rating in a research note on Monday, August 9th. Finally, Wolfe Research upped their target price on shares of Paylocity from $180.00 to $230.00 and gave the stock a “peer perform” rating in a research note on Friday, August 6th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Paylocity currently has an average rating of “Hold” and a consensus target price of $220.31.

Paylocity Profile

Paylocity Holding Corp. engages in the development and provision of cloud-based software solution. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded by Steve I. Sarowitz in 1997 and is headquartered in Schaumburg, IL.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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