GW&K Investment Management LLC Sells 741 Shares of Paylocity Holding Corporation (NASDAQ:PCTY)

GW&K Investment Management LLC trimmed its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,269 shares of the software maker’s stock after selling 741 shares during the period. GW&K Investment Management LLC owned approximately 0.68% of Paylocity worth $71,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PCTY. Vanguard Group Inc. grew its holdings in Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock valued at $803,745,000 after buying an additional 46,183 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker’s stock worth $265,737,000 after purchasing an additional 320,319 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Paylocity by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock valued at $214,275,000 after acquiring an additional 25,182 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Paylocity by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock valued at $172,300,000 after acquiring an additional 7,251 shares during the last quarter. Finally, FMR LLC raised its position in Paylocity by 138.5% during the 4th quarter. FMR LLC now owns 650,599 shares of the software maker’s stock valued at $129,775,000 after purchasing an additional 377,835 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCTY. BMO Capital Markets lifted their price target on Paylocity from $210.00 to $226.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Piper Sandler restated an “overweight” rating and issued a $258.00 price target (up from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. JMP Securities reissued a “market outperform” rating and set a $270.00 price target on shares of Paylocity in a report on Tuesday, April 29th. Wall Street Zen raised Paylocity from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Citigroup dropped their price target on Paylocity from $246.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.56.

Paylocity Stock Down 0.8%

Paylocity stock opened at $186.38 on Monday. The business has a fifty day moving average of $187.12 and a two-hundred day moving average of $192.41. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.20. The firm has a market cap of $10.29 billion, a P/E ratio of 46.48, a P/E/G ratio of 3.66 and a beta of 0.50. Paylocity Holding Corporation has a twelve month low of $140.06 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.34. The business had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. On average, analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total value of $303,462.58. Following the transaction, the senior vice president directly owned 11,953 shares of the company’s stock, valued at $2,112,573.22. This represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.91% of the stock is currently owned by 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.