Motley Fool Wealth Management LLC Sells 883 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Motley Fool Wealth Management LLC cut its position in Paylocity Holding Co. (NASDAQ:PCTY) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 43,918 shares of the software maker’s stock after selling 883 shares during the period. Motley Fool Wealth Management LLC’s holdings in Paylocity were worth $7,229,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PCTY. GAMMA Investing LLC purchased a new position in shares of Paylocity during the fourth quarter valued at approximately $36,000. RiverPark Advisors LLC bought a new stake in Paylocity during the third quarter worth $43,000. CWM LLC grew its holdings in Paylocity by 18.1% during the third quarter. CWM LLC now owns 412 shares of the software maker’s stock worth $75,000 after buying an additional 63 shares in the last quarter. Signaturefd LLC grew its holdings in Paylocity by 115.5% during the third quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock worth $91,000 after buying an additional 269 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Paylocity by 18.6% during the third quarter. Covestor Ltd now owns 836 shares of the software maker’s stock worth $152,000 after buying an additional 131 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent research reports. Mizuho decreased their price target on Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a research report on Friday, February 9th. Citigroup boosted their price objective on Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Jefferies Financial Group reissued a “hold” rating and issued a $180.00 price objective (down previously from $240.00) on shares of Paylocity in a research report on Friday, January 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research report on Monday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Paylocity Stock Up 0.3 %

Shares of Paylocity stock traded up $0.48 during trading on Friday, hitting $157.06. 374,120 shares of the stock traded hands, compared to its average volume of 348,201. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 3.40 and a beta of 0.87. The firm’s fifty day moving average is $167.16 and its 200-day moving average is $164.78. Paylocity Holding Co. has a 52 week low of $139.40 and a 52 week high of $230.52.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results 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. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. The business had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. On average, analysts forecast that Paylocity Holding Co. will post 3.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey T. Diehl sold 1,760 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the transaction, the director now directly owns 14,704 shares in the company, valued at approximately $2,523,794.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $175.47, for a total value of $4,299,716.88. Following the completion of the sale, the director now owns 9,587,872 shares in the company, valued at approximately $1,682,383,899.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total value of $302,086.40. Following the completion of the sale, the director now owns 14,704 shares of the company’s stock, valued at approximately $2,523,794.56. The disclosure for this sale can be found here. Insiders have sold a total of 54,547 shares of company stock worth $9,356,359 in the last ninety days. 22.50% of the stock is owned by insiders.

About Paylocity

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.