Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,255 shares of the software maker’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Paylocity were worth $649,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity during the fourth quarter valued at about $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity during the third quarter valued at about $39,000. UMB Bank n.a. grew its stake in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after acquiring an additional 225 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after acquiring an additional 63 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Steven I. Sarowitz sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total transaction of $280,826.00. Following the sale, the director now owns 8,338,430 shares of the company’s stock, valued at $1,672,605,673.70. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 18,566 shares of company stock valued at $3,755,321. Insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

PCTY has been the subject of a number of research reports. KeyCorp lifted their price target on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $254.00 price target (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Needham & Company LLC lifted their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Raymond James reiterated an “outperform” rating and issued a $265.00 price target (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Finally, UBS Group lifted their price target on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Stock Performance

PCTY opened at $186.24 on Monday. The business’s 50 day moving average is $201.95 and its 200-day moving average is $190.43. The stock has a market cap of $10.41 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

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.