Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG reduced its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,539 shares of the software maker’s stock after selling 3,416 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Paylocity were worth $2,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Certuity LLC acquired a new stake in shares of Paylocity during the fourth quarter worth about $232,000. Edgestream Partners L.P. increased its position in Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after buying an additional 7,475 shares during the period. Barclays PLC lifted its stake in Paylocity by 14.3% in the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after buying an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after acquiring an additional 5,742 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after acquiring an additional 36,590 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Performance

NASDAQ PCTY opened at $189.83 on Wednesday. The business has a 50 day moving average price of $200.85 and a 200 day moving average price of $193.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $10.61 billion, a P/E ratio of 48.67, a PEG ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year 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 (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Sell-side analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PCTY. KeyCorp increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Piper Sandler reissued an “overweight” rating and set a $254.00 price target (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. UBS Group upped their price objective on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Barclays increased their price objective on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, JMP Securities boosted their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the transaction, the director now owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.91% of the stock is owned by corporate insiders.

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.