Stanley Laman Group Ltd. Lowers Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Stanley Laman Group Ltd. decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 14.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,670 shares of the software maker’s stock after selling 5,174 shares during the period. Stanley Laman Group Ltd.’s holdings in Paylocity were worth $5,225,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FORA Capital LLC purchased a new stake in shares of Paylocity in the first quarter valued at approximately $1,540,000. BNP Paribas Financial Markets raised its stake in Paylocity by 55.2% in the first quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock worth $6,328,000 after buying an additional 13,093 shares in the last quarter. Cetera Advisors LLC bought a new position in Paylocity in the first quarter worth approximately $729,000. Price T Rowe Associates Inc. MD raised its stake in Paylocity by 3.3% in the first 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 buying an additional 278,607 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in Paylocity in the first quarter worth approximately $46,902,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. BTIG Research reduced their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Paylocity in a research report on Thursday, October 17th. Mizuho upped their price target on Paylocity from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, KeyCorp upped their target price on Paylocity from $171.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average price target of $186.07.

Paylocity Trading Up 2.1 %

Shares of Paylocity stock opened at $175.12 on Wednesday. The firm has a market capitalization of $9.73 billion, a PE ratio of 48.11, a P/E/G ratio of 4.17 and a beta of 0.95. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $194.65. The firm’s 50-day moving average price is $161.74 and its 200 day moving average price is $154.37.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. The company had revenue of $357.30 million during the quarter, compared to the consensus estimate of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. Paylocity’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, sell-side analysts predict that Paylocity Holding Co. will post 4.51 EPS for the current fiscal year.

Insider Transactions at Paylocity

In other news, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.50% of the company’s stock.

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.