Janus Henderson Group PLC Cuts Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Janus Henderson Group PLC lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 498,400 shares of the software maker’s stock after selling 3,324 shares during the quarter. Janus Henderson Group PLC’s holdings in Paylocity were worth $85,655,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PCTY. Capital International Investors raised its holdings in shares of Paylocity by 119.0% during the 4th quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock valued at $199,637,000 after buying an additional 658,057 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Paylocity by 35.0% during the 1st quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock valued at $411,895,000 after purchasing an additional 621,946 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Paylocity in the 4th quarter valued at about $82,172,000. Clearbridge Investments LLC boosted its stake in shares of Paylocity by 2,212.5% during the fourth quarter. Clearbridge Investments LLC now owns 381,952 shares of the software maker’s stock valued at $62,965,000 after purchasing an additional 365,435 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Paylocity by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after acquiring an additional 278,607 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In other news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the transaction, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the sale, the chief financial officer now directly owns 31,074 shares in the company, valued at $4,352,224.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the transaction, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,173 shares of company stock valued at $7,296,388. Corporate insiders own 22.50% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ:PCTY traded up $3.44 during mid-day trading on Wednesday, reaching $152.09. 265,574 shares of the company traded hands, compared to its average volume of 519,766. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $230.52. The firm has a market cap of $8.58 billion, a PE ratio of 43.96, a PEG ratio of 2.56 and a beta of 0.92. The company’s 50 day moving average price is $141.27 and its 200-day moving average price is $156.93.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.28 by $0.29. The firm had revenue of $401.28 million for the quarter, compared to the consensus estimate of $396.93 million. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. On average, research analysts predict that Paylocity Holding Co. will post 3.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on PCTY. Piper Sandler reduced their target price on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. KeyCorp decreased their price objective on Paylocity from $200.00 to $171.00 and set an “overweight” rating for the company in a report on Friday, July 19th. TD Cowen dropped their target price on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Paylocity in a research report on Friday, May 3rd. Finally, Robert W. Baird lowered their price target on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.59.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.