T. Rowe Price Investment Management Inc. Sells 18,542 Shares of Paylocity Holding Corporation $PCTY

T. Rowe Price Investment Management Inc. lessened its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,770,975 shares of the software maker’s stock after selling 18,542 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.07% of Paylocity worth $575,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC bought a new stake in Paylocity during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in Paylocity by 363.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Paylocity in the fourth quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new position in shares of Paylocity in the third quarter valued at approximately $38,000. Finally, Parallel Advisors LLC increased its position in shares of Paylocity by 446.2% during the fourth quarter. Parallel Advisors LLC now owns 284 shares of the software maker’s stock worth $43,000 after acquiring an additional 232 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Performance

Shares of PCTY opened at $101.06 on Friday. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $197.78. The firm has a fifty day simple moving average of $107.05 and a 200 day simple moving average of $121.24. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 21.55 and a beta of 0.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. KeyCorp dropped their price target on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Jefferies Financial Group set a $135.00 price target on Paylocity in a report on Saturday, May 9th. Robert W. Baird set a $193.00 price objective on Paylocity in a research report on Friday, May 8th. Finally, Citigroup increased their price objective on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price of $160.28.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the sale, the senior vice president directly owned 17,679 shares of the company’s stock, valued at $2,033,968.95. The trade was a 4.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by company insiders.

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.