Edmond DE Rothschild Holding S.A. Lowers Position in Paylocity Holding Co. (NASDAQ:PCTY)

Edmond DE Rothschild Holding S.A. trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,646 shares of the software maker’s stock after selling 403 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Paylocity were worth $3,033,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Paylocity by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,158,224 shares of the software maker’s stock valued at $685,483,000 after acquiring an additional 13,962 shares during the last quarter. Wasatch Advisors LP grew its holdings in Paylocity by 35.0% during the first quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock valued at $411,895,000 after purchasing an additional 621,946 shares during the period. Capital International Investors grew its holdings in Paylocity by 119.0% during the fourth 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 period. Allspring Global Investments Holdings LLC bought a new position in Paylocity during the fourth quarter valued at $82,172,000. Finally, Westfield Capital Management Co. LP grew its holdings in Paylocity by 2.2% during 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.

Insider Buying and Selling at Paylocity

In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $140.06, for a total transaction of $196,084.00. Following the sale, the chief financial officer now 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 at the SEC website. In other news, CFO Ryan Glenn sold 1,400 shares of the business’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 sale, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at approximately $4,352,224.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Nicholas Rost sold 331 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 4,751 shares in the company, valued at $659,106.23. The disclosure for this sale can be found here. Company insiders own 22.50% of the company’s stock.

Analyst Ratings Changes

PCTY has been the subject of several research reports. Robert W. Baird reduced their price objective on Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a report on Tuesday, June 18th. Piper Sandler reduced their price objective on Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Barclays reduced their price objective on Paylocity from $178.00 to $160.00 and set an “equal weight” rating for the company in a report on Tuesday. Stifel Nicolaus cut their price target on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, Citigroup cut their price target on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $189.59.

Paylocity Stock Down 0.3 %

NASDAQ:PCTY traded down $0.44 during trading hours on Wednesday, hitting $150.28. 577,559 shares of the company’s stock traded hands, compared to its average volume of 528,539. The firm has a market cap of $8.48 billion, a P/E ratio of 43.69, a P/E/G ratio of 2.54 and a beta of 0.92. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $230.52. The business’s fifty day simple moving average is $145.93 and its two-hundred day simple moving average is $157.89.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.29. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The business had revenue of $401.28 million for the quarter, compared to the consensus estimate of $396.93 million. On average, analysts expect that Paylocity Holding Co. will post 3.95 EPS for the current year.

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.