Paylocity Holding Corporation (NASDAQ:PCTY) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,675 shares of the software maker’s stock after selling 614 shares during the quarter. Amalgamated Bank’s holdings in Paylocity were worth $3,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Paylocity by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock worth $803,745,000 after purchasing an additional 46,183 shares in the last quarter. Invesco Ltd. raised its stake in shares of Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker’s stock worth $265,737,000 after buying an additional 320,319 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Paylocity by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock worth $214,275,000 after buying an additional 25,182 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Paylocity by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock valued at $172,300,000 after acquiring an additional 7,251 shares during the last quarter. Finally, FMR LLC increased its holdings in Paylocity by 138.5% during the 4th quarter. FMR LLC now owns 650,599 shares of the software maker’s stock valued at $129,775,000 after acquiring an additional 377,835 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Trading Up 2.5%

NASDAQ PCTY opened at $184.61 on Friday. The company has a 50-day moving average of $188.68 and a 200-day moving average of $193.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 1.13. Paylocity Holding Corporation has a 12 month low of $130.51 and a 12 month high of $223.80. The company has a market cap of $10.20 billion, a P/E ratio of 46.04, a P/E/G ratio of 3.51 and a beta of 0.50.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. The firm had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. Paylocity’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. As a group, equities analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the sale, the senior vice president owned 11,953 shares of the company’s stock, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCTY. Jefferies Financial Group reduced their price target on shares of Paylocity from $255.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Scotiabank initiated coverage on Paylocity in a research note on Wednesday, April 16th. They issued a “sector perform” rating and a $190.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $258.00 price target (up previously from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. UBS Group boosted their price target on Paylocity from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Finally, KeyCorp decreased their price objective on Paylocity from $250.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.75.

Paylocity Profile

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.