Wealth Alliance Sells 53 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Wealth Alliance reduced its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,413 shares of the software maker’s stock after selling 53 shares during the period. Wealth Alliance’s holdings in Paylocity were worth $282,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in Paylocity during the 3rd quarter worth approximately $39,000. UMB Bank n.a. increased its holdings in Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares in the last quarter. Signaturefd LLC increased its holdings in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in 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 worth $51,000 after purchasing an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent analyst reports. Barclays upped their target price on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Raymond James reaffirmed an “outperform” rating and issued a $265.00 target price (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Stifel Nicolaus upped their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and upped their target price for the company from $200.00 to $235.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Insiders Place Their Bets

In other news, Director Jeffrey T. Diehl sold 4,513 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the transaction, the director now owns 1,003 shares of the company’s stock, valued at approximately $210,539.73. This represents a 81.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the transaction, the director now directly owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,999 shares of company stock worth $17,822,987 over the last 90 days. Corporate insiders own 21.91% of the company’s stock.

Paylocity Trading Down 0.8 %

NASDAQ:PCTY opened at $204.82 on Friday. The company has a market cap of $11.45 billion, a P/E ratio of 52.52, a P/E/G ratio of 4.62 and a beta of 0.95. The stock’s fifty day moving average price is $202.73 and its two-hundred day moving average price is $185.25. 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 posted 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%. As a group, analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.

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.