Deutsche Bank AG Sells 15,721 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Deutsche Bank AG reduced its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 165,324 shares of the software maker’s stock after selling 15,721 shares during the quarter. Deutsche Bank AG owned 0.30% of Paylocity worth $32,977,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in Paylocity during the fourth quarter worth about $29,000. UMB Bank n.a. lifted its holdings in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after acquiring an additional 72 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after acquiring an additional 225 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after acquiring an additional 63 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Paylocity in the fourth quarter valued at approximately $72,000. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. This represents a 5.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PCTY shares. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 target price (up previously from $254.00) on shares of Paylocity in a report on Friday, May 2nd. Stifel Nicolaus reduced their price objective on Paylocity from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barclays lifted their target price on Paylocity from $204.00 to $209.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Scotiabank initiated coverage on shares of Paylocity in a report on Wednesday, April 16th. They issued a “sector perform” rating and a $190.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price target on shares of Paylocity in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.00.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $199.23 on Wednesday. The firm has a market cap of $11.00 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The firm’s fifty day moving average is $187.57 and its 200-day moving average is $197.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The firm had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. During the same period in the previous year, the business earned $2.21 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

About Paylocity

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.