Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 49,699 shares of the software maker’s stock after selling 2,074 shares during the period. Corebridge Financial Inc.’s holdings in Paylocity were worth $9,913,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after buying an additional 4,697 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Paylocity by 28.6% in the third quarter. Cerity Partners LLC now owns 17,046 shares of the software maker’s stock valued at $2,812,000 after purchasing an additional 3,794 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Paylocity by 3.2% in the third quarter. Fisher Asset Management LLC now owns 76,160 shares of the software maker’s stock valued at $12,564,000 after purchasing an additional 2,354 shares during the last quarter. Associated Banc Corp purchased a new position in shares of Paylocity during the 3rd quarter worth approximately $216,000. Finally, FMR LLC raised its position in shares of Paylocity by 19.3% during 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 last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PCTY. TD Cowen dropped their price target on 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 Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Jefferies Financial Group upped their target price on shares of Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. Raymond James reiterated an “outperform” rating and set a $265.00 price target (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Finally, Barclays upped their price objective on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and an average target price of $233.25.

Insider Activity at Paylocity

In other news, Director Steven I. Sarowitz sold 23,243 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the sale, the director now owns 470,452 shares of the company’s stock, valued at $89,856,332. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 52,095 shares of company stock worth $10,076,554. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Paylocity stock opened at $194.12 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The stock’s 50-day moving average is $201.57 and its 200-day moving average is $192.05.

Paylocity (NASDAQ:PCTY) last announced 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%. Equities analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Paylocity Company 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.