Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,939 shares of the software maker’s stock after selling 8,407 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.15% of Paylocity worth $11,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCTY. Price T Rowe Associates Inc. MD increased its stake in Paylocity by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares in the last quarter. Vanguard Group Inc. raised its stake in Paylocity by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 4,158,224 shares of the software maker’s stock worth $685,483,000 after acquiring an additional 13,962 shares during the last quarter. Wasatch Advisors LP lifted its position in Paylocity by 35.0% during the 1st quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock worth $411,895,000 after acquiring an additional 621,946 shares during the period. Capital International Investors grew its stake in Paylocity by 119.0% during the 4th quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock valued at $199,637,000 after purchasing an additional 658,057 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Paylocity by 2.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 483,015 shares of the software maker’s stock valued at $79,625,000 after purchasing an additional 10,498 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Up 0.2 %

PCTY opened at $152.25 on Wednesday. The firm’s fifty day simple moving average is $142.98 and its two-hundred day simple moving average is $156.50. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $206.28. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 3.67 and a beta of 0.92.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The firm had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. During the same period last year, the company posted $0.76 EPS. Paylocity’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, research analysts forecast that Paylocity Holding Co. will post 4.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PCTY shares. Stifel Nicolaus dropped their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. TD Cowen dropped their price objective on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Truist Financial reduced their target price on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price target on shares of Paylocity in a report on Friday, August 2nd. Finally, BTIG Research decreased their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.13.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 331 shares of Paylocity stock in a transaction on Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the sale, the chief accounting officer now owns 4,751 shares of the company’s stock, valued at approximately $659,106.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the sale, the chief financial officer now directly owns 31,074 shares in the company, valued at $4,352,224.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nicholas Rost sold 331 shares of Paylocity stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the transaction, the chief accounting officer now owns 4,751 shares in the company, valued at approximately $659,106.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,173 shares of company stock worth $7,296,388. 22.50% of the stock is owned by corporate insiders.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.