Moody National Bank Trust Division Has $1.32 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Moody National Bank Trust Division decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 25.8% in the 1st quarter, HoldingsChannel reports. The firm owned 7,032 shares of the software maker’s stock after selling 2,450 shares during the quarter. Moody National Bank Trust Division’s holdings in Paylocity were worth $1,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Paylocity by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock worth $1,916,000 after purchasing an additional 49 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Paylocity by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock worth $3,813,000 after buying an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after purchasing an additional 63 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in Paylocity by 5.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock valued at $326,000 after buying an additional 75 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Paylocity by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock worth $630,000 after acquiring an additional 77 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on PCTY shares. Stifel Nicolaus cut their price target on shares of Paylocity from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. KeyCorp decreased their price objective on Paylocity from $250.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler reiterated an “overweight” rating and set a $258.00 price objective (up previously from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. Mizuho cut their price target on Paylocity from $245.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised shares of Paylocity from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $223.00.

Paylocity Trading Up 0.3%

PCTY opened at $189.88 on Friday. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 48.69, a PEG ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company’s 50 day moving average price is $189.49 and its two-hundred day moving average price is $197.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The business had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. During the same quarter in the prior year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insider Activity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. This represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.91% of the stock is owned by company insiders.

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.