Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Graham Capital Management L.P.

Graham Capital Management L.P. reduced its position in Paylocity Holding Co. (NASDAQ:PCTY) by 23.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,285 shares of the software maker’s stock after selling 2,567 shares during the quarter. Graham Capital Management L.P.’s holdings in Paylocity were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Paylocity by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock valued at $1,916,000 after purchasing an additional 49 shares during the period. Bessemer Group Inc. lifted its stake in shares of Paylocity by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock valued at $3,813,000 after purchasing an additional 51 shares during the period. Steward Partners Investment Advisory LLC lifted its stake 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 purchasing an additional 63 shares during the period. UMB Bank n.a. lifted its stake in shares of Paylocity by 41.1% in the 4th 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. Finally, HighPoint Advisor Group LLC increased its holdings in Paylocity by 5.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock worth $326,000 after acquiring an additional 75 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is available through this link. 21.91% of the stock is currently owned by insiders.

Paylocity Price Performance

Paylocity stock opened at $194.61 on Monday. 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 company has a fifty day simple moving average of $187.64 and a 200-day simple moving average of $197.08. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 4.49 and a beta of 0.58.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The firm had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Paylocity’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. KeyCorp cut their price target on shares of Paylocity from $250.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Piper Sandler reissued an “overweight” rating and issued a $258.00 price target (up previously from $254.00) on shares of Paylocity in a report on Friday, May 2nd. Barclays boosted their price target on shares of Paylocity from $204.00 to $209.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Stifel Nicolaus cut their price target on shares of Paylocity from $250.00 to $235.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Mizuho cut their price target on shares of Paylocity from $245.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.00.

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.