Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,127 shares of the software maker’s stock after selling 1,909 shares during the period. Oppenheimer Asset Management Inc. owned about 0.10% of Paylocity worth $11,196,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Prospera Private Wealth LLC acquired a new position in shares of Paylocity in the 3rd quarter valued at $39,000. UMB Bank n.a. lifted its position in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. Quarry LP boosted its stake in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new stake in shares of Paylocity during the third quarter worth about $82,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Paylocity news, CFO Ryan Glenn sold 2,600 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the sale, the chief financial officer now directly owns 48,150 shares in the company, valued at approximately $9,890,010. The trade was a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 13,689 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $203.29, for a total value of $2,782,836.81. Following the completion of the sale, the director now directly owns 8,385,954 shares in the company, valued at $1,704,780,588.66. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,349 shares of company stock valued at $14,121,177. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $200.40 on Friday. 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. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 51.38, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95. The stock has a 50 day simple moving average of $203.14 and a 200-day simple moving average of $186.90.

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 return on equity of 22.45% and a net margin of 14.76%. On average, equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PCTY. KeyCorp upped their target price on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. BMO Capital Markets increased their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and upped their price target for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Truist Financial raised their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Barclays upped their target price on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $233.25.

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.