Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC lessened its position in Paylocity Holding Co. (NASDAQ:PCTY) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,918 shares of the software maker’s stock after selling 883 shares during the period. Motley Fool Wealth Management LLC owned approximately 0.08% of Paylocity worth $7,229,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Paylocity by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock worth $753,012,000 after acquiring an additional 25,562 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Paylocity in the 4th quarter valued at about $82,172,000. Liontrust Investment Partners LLP bought a new position in Paylocity in the 3rd quarter valued at about $90,181,000. Westfield Capital Management Co. LP grew its position in Paylocity by 26.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock valued at $85,856,000 after buying an additional 99,781 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Paylocity by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 461,992 shares of the software maker’s stock valued at $83,944,000 after buying an additional 11,025 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PCTY shares. Truist Financial decreased their target price on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, February 9th. JMP Securities reiterated a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a research report on Monday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $200.00 price objective on shares of Paylocity in a research report on Friday, February 9th. KeyCorp reduced their price objective on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Finally, Mizuho reduced their price objective on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Insiders Place Their Bets

In related news, CEO Steven R. Beauchamp sold 7,760 shares of Paylocity stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total value of $1,295,532.00. Following the completion of the transaction, the chief executive officer now directly owns 1,746,468 shares of the company’s stock, valued at $291,572,832.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Paylocity news, SVP Katherine Ross sold 491 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $168.29, for a total transaction of $82,630.39. Following the completion of the sale, the senior vice president now directly owns 15,353 shares of the company’s stock, valued at approximately $2,583,756.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 7,760 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total value of $1,295,532.00. Following the sale, the chief executive officer now directly owns 1,746,468 shares of the company’s stock, valued at $291,572,832.60. The disclosure for this sale can be found here. Insiders have sold 54,547 shares of company stock worth $9,356,359 over the last 90 days. Corporate insiders own 22.50% of the company’s stock.

Paylocity Stock Up 0.3 %

PCTY stock traded up $0.48 during midday trading on Friday, hitting $157.06. 374,120 shares of the company traded hands, compared to its average volume of 348,201. The business has a 50 day simple moving average of $167.16 and a 200-day simple moving average of $164.78. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 53.06, a price-to-earnings-growth ratio of 3.40 and a beta of 0.87. Paylocity Holding Co. has a twelve month low of $139.40 and a twelve month high of $230.52.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $326.36 million for the quarter, compared to the consensus estimate of $324.34 million. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. Equities research analysts forecast that Paylocity Holding Co. will post 3.48 EPS for the current year.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.