CIBC Private Wealth Group LLC Sells 232 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

CIBC Private Wealth Group LLC lessened its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,549 shares of the software maker’s stock after selling 232 shares during the period. CIBC Private Wealth Group LLC’s holdings in Paylocity were worth $496,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Paylocity by 19.3% in the 3rd quarter. FMR LLC now owns 272,764 shares of the software maker’s stock worth $44,998,000 after purchasing an additional 44,118 shares during the period. HighTower Advisors LLC raised its stake in shares of Paylocity by 25.6% in the third quarter. HighTower Advisors LLC now owns 4,592 shares of the software maker’s stock valued at $751,000 after buying an additional 936 shares during the period. Quarry LP lifted its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Paylocity by 62.2% during the 3rd quarter. Quantinno Capital Management LP now owns 29,557 shares of the software maker’s stock worth $4,876,000 after acquiring an additional 11,340 shares during the period. Finally, Stifel Financial Corp increased its holdings in Paylocity by 0.6% in the 3rd quarter. Stifel Financial Corp now owns 23,412 shares of the software maker’s stock worth $3,862,000 after acquiring an additional 133 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Paylocity Trading Down 4.3 %

NASDAQ PCTY opened at $174.88 on Friday. The stock’s 50-day simple moving average is $199.66 and its two-hundred day simple moving average is $193.20. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 44.84, a PEG ratio of 4.49 and a beta of 0.76.

Paylocity (NASDAQ:PCTY) last released its 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 return on equity of 22.45% and a net margin of 14.76%. Research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Activity at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now directly owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.91% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Cowen cut their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group lifted their price objective on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. KeyCorp increased their target price on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Jefferies Financial Group lifted their price target on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.25.

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.