New York Life Investment Management LLC Sells 456 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

New York Life Investment Management LLC trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,599 shares of the software maker’s stock after selling 456 shares during the quarter. New York Life Investment Management LLC’s holdings in Paylocity were worth $917,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PCTY. Oregon Public Employees Retirement Fund lifted its position in shares of Paylocity by 1.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,889 shares of the software maker’s stock worth $1,773,000 after buying an additional 100 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Paylocity during the 4th quarter worth $2,689,000. ING Groep NV bought a new stake in shares of Paylocity during the 4th quarter worth $2,274,000. Hardy Reed LLC bought a new stake in shares of Paylocity during the 4th quarter worth $236,000. Finally, Private Advisor Group LLC bought a new stake in shares of Paylocity during the 4th quarter worth $246,000. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 63,849 shares of company stock valued at $12,982,226 over the last 90 days. Company insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group upped their price objective on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. TD Cowen dropped their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and increased their target price for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Barclays increased their target price on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, KeyCorp increased their target price on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Trading Up 0.3 %

Shares of PCTY stock opened at $204.95 on Tuesday. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 52.55, a PEG ratio of 4.49 and a beta of 0.95. The stock has a 50-day moving average of $203.50 and a 200-day moving average of $188.23. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, equities research analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

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.