Paylocity Holding Corporation $PCTY Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 13.0% during the third quarter, Holdings Channel reports. The firm owned 43,129 shares of the software maker’s stock after selling 6,438 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Paylocity were worth $6,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. American Century Companies Inc. grew its holdings in shares of Paylocity by 4.0% in the second quarter. American Century Companies Inc. now owns 534,843 shares of the software maker’s stock valued at $96,909,000 after purchasing an additional 20,649 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Paylocity by 500.6% during the 2nd quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock worth $81,438,000 after buying an additional 375,023 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Paylocity by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 434,789 shares of the software maker’s stock valued at $78,779,000 after buying an additional 5,623 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Paylocity by 120.3% in the second quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock worth $62,042,000 after acquiring an additional 186,952 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Paylocity by 80.3% in the second quarter. Bank of America Corp DE now owns 289,553 shares of the software maker’s stock worth $52,464,000 after acquiring an additional 128,972 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Ryan Glenn sold 1,737 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total value of $249,520.05. Following the completion of the sale, the chief financial officer directly owned 77,229 shares of the company’s stock, valued at $11,093,945.85. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.40% of the stock is currently owned by company insiders.

Paylocity Stock Performance

Shares of PCTY opened at $113.82 on Wednesday. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 3.27 and a beta of 0.54. Paylocity Holding Corporation has a 52-week low of $111.91 and a 52-week high of $218.74. The company has a quick ratio of 1.07, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $143.94 and a 200 day moving average price of $155.42.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. During the same quarter in the previous year, the firm earned $1.52 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Research analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Stephens set a $160.00 price objective on Paylocity in a research note on Friday, January 16th. Jefferies Financial Group cut their price target on Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Mizuho decreased their price objective on Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Guggenheim upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Monday, November 10th. Finally, Robert W. Baird set a $220.00 target price on shares of Paylocity in a report on Friday. Sixteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and an average target price of $183.14.

Paylocity Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.