Amundi Sells 2,107 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Amundi decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,602 shares of the software maker’s stock after selling 2,107 shares during the quarter. Amundi’s holdings in Paylocity were worth $4,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its stake in shares of Paylocity by 14.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,367 shares of the software maker’s stock worth $556,000 after purchasing an additional 428 shares during the period. Victory Capital Management Inc. raised its position in Paylocity by 297.6% in the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock worth $19,724,000 after acquiring an additional 89,487 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of Paylocity during the 3rd quarter worth $213,000. CIBC Asset Management Inc grew its position in shares of Paylocity by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock valued at $273,000 after acquiring an additional 58 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Paylocity by 6.6% in the 3rd quarter. Empowered Funds LLC now owns 8,795 shares of the software maker’s stock worth $1,451,000 after purchasing an additional 546 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 1,400 shares of the firm’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 value of $280,826.00. Following the completion of the sale, the director now directly owns 8,338,430 shares of the company’s stock, valued at $1,672,605,673.70. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 18,566 shares of company stock valued at $3,755,321 in the last three months. Corporate insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PCTY shares. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Barclays lifted their price objective on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Needham & Company LLC upped their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, UBS Group increased their price objective on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Three equities 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 presently has an average rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Price Performance

NASDAQ:PCTY opened at $186.24 on Friday. The company has a market capitalization of $10.41 billion, a P/E ratio of 47.75, a P/E/G ratio of 4.49 and a beta of 0.94. The business’s 50-day moving average is $201.95 and its 200 day moving average is $190.22. 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 12 month low of $129.94 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS 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, equities research analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal 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.