Bell Asset Management Ltd Sells 19,606 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Bell Asset Management Ltd lowered its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 39.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,694 shares of the software maker’s stock after selling 19,606 shares during the quarter. Bell Asset Management Ltd owned 0.06% of Paylocity worth $6,123,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PCTY. FMR LLC boosted its position in Paylocity by 19.3% during the 3rd quarter. FMR LLC now owns 272,764 shares of the software maker’s stock valued at $44,998,000 after buying an additional 44,118 shares during the period. HighTower Advisors LLC grew its stake in shares of Paylocity by 25.6% in the third quarter. HighTower Advisors LLC now owns 4,592 shares of the software maker’s stock worth $751,000 after purchasing an additional 936 shares during the last quarter. Quarry LP increased its holdings in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the period. Quantinno Capital Management LP raised its position in Paylocity by 62.2% during the 3rd quarter. Quantinno Capital Management LP now owns 29,557 shares of the software maker’s stock valued at $4,876,000 after purchasing an additional 11,340 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Paylocity by 0.6% in the 3rd quarter. Stifel Financial Corp now owns 23,412 shares of the software maker’s stock worth $3,862,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

PCTY opened at $174.88 on Monday. The firm has a market cap of $9.77 billion, a PE ratio of 44.84, a P/E/G ratio of 4.49 and a beta of 0.76. The stock has a 50-day moving average price of $199.66 and a 200-day moving average price of $193.65. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. 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 (NASDAQ:PCTY) last issued its earnings results 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%. Sell-side analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on PCTY. Raymond James restated an “outperform” rating and set a $265.00 target price (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. TD Cowen dropped their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JMP Securities lifted their target price on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $254.00 price target (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Finally, Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 23,243 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the transaction, the director now directly 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 document filed with the SEC, which is available through the SEC website. Company insiders own 21.91% of the company’s stock.

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.