First Hawaiian Bank Purchases 150 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

First Hawaiian Bank increased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,425 shares of the software maker’s stock after purchasing an additional 150 shares during the period. First Hawaiian Bank’s holdings in Paylocity were worth $320,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PCTY. WCM Investment Management LLC raised its stake in Paylocity by 2.3% during the first quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock valued at $525,000 after purchasing an additional 69 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Paylocity by 2.4% in the 4th quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker’s stock worth $531,000 after buying an additional 76 shares during the last quarter. Shaker Investments LLC OH raised its position in shares of Paylocity by 0.3% during the 4th quarter. Shaker Investments LLC OH now owns 23,672 shares of the software maker’s stock valued at $3,902,000 after buying an additional 77 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Paylocity by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after acquiring an additional 78 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Paylocity by 8.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,246 shares of the software maker’s stock worth $205,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

NASDAQ PCTY traded down $0.49 during trading on Tuesday, reaching $152.53. 335,814 shares of the company’s stock traded hands, compared to its average volume of 528,803. The company’s 50 day simple moving average is $140.64 and its two-hundred day simple moving average is $156.89. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $210.68. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 44.70, a price-to-earnings-growth ratio of 2.59 and a beta of 0.92.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.19. The company had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.40%. Paylocity’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. Research analysts expect that Paylocity Holding Co. will post 4.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 331 shares of Paylocity stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the transaction, the chief accounting officer now owns 4,751 shares in the company, valued at $659,106.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Nicholas Rost sold 331 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the completion of the sale, the chief accounting officer now owns 4,751 shares of the company’s stock, valued at $659,106.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now directly owns 1,745,022 shares in the company, valued at $248,979,738.96. The disclosure for this sale can be found here. Insiders sold 51,173 shares of company stock worth $7,296,388 in the last three months. 22.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PCTY shares. Stifel Nicolaus cut their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. JMP Securities reiterated a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research report on Monday. Piper Sandler lowered their target price on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Paylocity in a research note on Friday. Finally, Jefferies Financial Group reduced their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.13.

Paylocity 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.