Point72 Asia Singapore Pte. Ltd. Lowers Position in Paylocity Holding Co. (NASDAQ:PCTY)

Point72 Asia Singapore Pte. Ltd. decreased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 50.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,549 shares of the software maker’s stock after selling 5,733 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Paylocity were worth $1,107,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PCTY. SBI Securities Co. Ltd. bought a new position in shares of Paylocity during the fourth quarter valued at approximately $29,000. UMB Bank n.a. lifted its holdings in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after buying an additional 72 shares during the period. EverSource Wealth Advisors LLC boosted its position in Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after acquiring an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after acquiring an additional 63 shares during the period. Finally, Johnson Financial Group Inc. bought a new position in shares of Paylocity in the 4th quarter worth $72,000. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PCTY. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Financial Group decreased their price target on shares of Paylocity from $255.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price objective (up previously from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. Citigroup decreased their target price on shares of Paylocity from $246.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Finally, Scotiabank began coverage on shares of Paylocity in a report on Wednesday, April 16th. They issued a “sector perform” rating and a $190.00 price target on the stock. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.00.

Paylocity Price Performance

Shares of PCTY opened at $199.47 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. The company’s fifty day moving average price is $187.74 and its 200-day moving average price is $197.27. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm has a market capitalization of $11.02 billion, a PE ratio of 51.15, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.34. The business had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. On average, equities research analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the completion of the transaction, the director now directly owns 470,452 shares in the company, valued at $89,856,332. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.91% of the stock is owned by insiders.

Paylocity 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.