Paylocity Holding Corporation $PCTY Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lessened its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 3.7% during the third quarter, Holdings Channel.com reports. The fund owned 369,831 shares of the software maker’s stock after selling 14,084 shares during the period. GW&K Investment Management LLC’s holdings in Paylocity were worth $58,904,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Paylocity by 14.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 616,747 shares of the software maker’s stock worth $98,237,000 after purchasing an additional 76,603 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Paylocity by 22.1% during the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock valued at $88,459,000 after buying an additional 100,400 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Paylocity by 4.0% in the 2nd 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 during the period. AQR Capital Management LLC increased its stake in Paylocity by 500.6% in the 2nd quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after buying an additional 375,023 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Paylocity by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 434,789 shares of the software maker’s stock worth $78,779,000 after acquiring an additional 5,623 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Mizuho dropped their target price on Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Citizens Jmp dropped their price objective on Paylocity from $245.00 to $170.00 and set a “market outperform” rating on the stock in a report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Paylocity in a research report on Friday, February 6th. KeyCorp decreased their target price on shares of Paylocity from $225.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Finally, Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.05.

Paylocity Price Performance

Shares of Paylocity stock opened at $114.49 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $130.57 and a 200-day simple moving average of $147.47. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 3.26 and a beta of 0.58. Paylocity Holding Corporation has a 1-year low of $100.50 and a 1-year high of $203.70.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 5th. The software maker reported $1.85 EPS 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 firm had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. During the same quarter last year, the firm posted $1.52 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

About Paylocity

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.