Van Berkom & Associates Inc. Lowers Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Van Berkom & Associates Inc. trimmed its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 16.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 494,495 shares of the software maker’s stock after selling 94,564 shares during the quarter. Paylocity comprises approximately 2.9% of Van Berkom & Associates Inc.’s portfolio, making the stock its 6th biggest position. Van Berkom & Associates Inc. owned about 0.89% of Paylocity worth $98,637,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. CIBC Asset Management Inc boosted its holdings 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 last quarter. UMB Bank n.a. lifted its position in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after purchasing an additional 82 shares during the last quarter. Covestor Ltd grew its position in Paylocity by 6.4% in the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock worth $227,000 after purchasing an additional 83 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Paylocity by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker’s stock valued at $2,414,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of Paylocity stock opened at $206.42 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The stock’s 50-day simple moving average is $202.73 and its 200-day simple moving average is $185.25. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 52.93, a PEG ratio of 4.62 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data 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 net margin of 14.76% and a return on equity of 22.45%. As a group, analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PCTY. Stifel Nicolaus raised their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Needham & Company LLC raised their target price on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. TD Cowen lowered their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group boosted their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Insiders Place Their Bets

In other Paylocity news, Director Jeffrey T. Diehl sold 4,513 shares of Paylocity stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $209.91, for a total value of $947,323.83. Following the sale, the director now owns 1,003 shares of the company’s stock, valued at $210,539.73. The trade was a 81.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 2,600 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the transaction, the director now owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,999 shares of company stock worth $17,822,987 in the last 90 days. 21.91% of the stock is currently owned by corporate insiders.

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.