Stanley Laman Group Ltd. Reduces Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Stanley Laman Group Ltd. lowered its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 14.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 31,670 shares of the software maker’s stock after selling 5,174 shares during the quarter. Stanley Laman Group Ltd. owned approximately 0.06% of Paylocity worth $5,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Paylocity by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after buying an additional 278,607 shares during the period. Wasatch Advisors LP raised its position in shares of Paylocity by 35.0% in the 1st quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock worth $411,895,000 after acquiring an additional 621,946 shares in the last quarter. Liontrust Investment Partners LLP raised its position in shares of Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after acquiring an additional 172,807 shares in the last quarter. Van Berkom & Associates Inc. raised its position in shares of Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after acquiring an additional 98,478 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Paylocity by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after acquiring an additional 21,127 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the sale, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on PCTY shares. Truist Financial decreased their target price on Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. BTIG Research decreased their target price on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. Jefferies Financial Group raised Paylocity from a “hold” rating to a “buy” rating and raised their price objective for the company from $145.00 to $200.00 in a research report on Tuesday. Finally, Barclays raised their price objective on Paylocity from $156.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.07.

Paylocity Stock Up 2.1 %

NASDAQ:PCTY opened at $175.12 on Wednesday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $194.65. The business’s 50-day simple moving average is $161.74 and its two-hundred day simple moving average is $154.37. The stock has a market cap of $9.73 billion, a PE ratio of 48.11, a P/E/G ratio of 4.17 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.19. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The firm had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Paylocity Holding Co. will post 4.51 earnings per share for the current fiscal 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.