Mirae Asset Global Investments Co. Ltd. Sells 81 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Mirae Asset Global Investments Co. Ltd. decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 37.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137 shares of the software maker’s stock after selling 81 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Paylocity were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PCTY. Sanctuary Advisors LLC bought a new position in Paylocity in the second quarter worth $194,000. Creative Planning bought a new position in shares of Paylocity during the third quarter valued at $267,000. NBC Securities Inc. bought a new position in shares of Paylocity during the third quarter valued at $290,000. Aaron Wealth Advisors LLC bought a new position in shares of Paylocity during the third quarter valued at $278,000. Finally, Blue Trust Inc. increased its holdings in shares of Paylocity by 1,832.4% during the third quarter. Blue Trust Inc. now owns 657 shares of the software maker’s stock valued at $108,000 after acquiring an additional 623 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Activity

In other news, Director Steven I. Sarowitz sold 10,237 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total value of $2,150,793.70. Following the transaction, the director now owns 9,214,115 shares in the company, valued at $1,935,885,561.50. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nicholas Rost sold 212 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the sale, the chief accounting officer now directly owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,434 shares of company stock worth $25,636,985 over the last quarter. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Stock Down 0.3 %

Shares of PCTY stock opened at $216.96 on Friday. The stock’s 50-day simple moving average is $201.94 and its 200-day simple moving average is $183.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $12.10 billion, a PE ratio of 55.63, a P/E/G ratio of 5.19 and a beta of 0.95. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. Equities analysts expect that Paylocity Holding Co. will post 4.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCTY. KeyCorp raised their price target on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Truist Financial raised their price target on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group raised their price target on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. JMP Securities lifted their price objective on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Finally, Raymond James reiterated an “outperform” rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.25.

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.