Paylocity Holding Co. (NASDAQ:PCTY) Stock Holdings Cut by Vanguard Personalized Indexing Management LLC

Posted by Defense World Staff on Aug 27th, 2023

Vanguard Personalized Indexing Management LLC reduced its position in shares of Paylocity Holding Co. (NASDAQ:PCTY – Free Report) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,966 shares of the software maker’s stock after selling 363 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Paylocity were worth $590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in Paylocity by 0.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 10,413 shares of the software maker’s stock valued at $1,816,000 after purchasing an additional 45 shares in the last quarter. LPL Financial LLC lifted its position in shares of Paylocity by 0.7% during the 4th quarter. LPL Financial LLC now owns 8,346 shares of the software maker’s stock valued at $1,568,000 after acquiring an additional 54 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Paylocity by 2.2% during the 1st quarter. Fifth Third Bancorp now owns 2,775 shares of the software maker’s stock valued at $552,000 after acquiring an additional 60 shares during the last quarter. Picton Mahoney Asset Management lifted its position in shares of Paylocity by 9.9% during the 4th quarter. Picton Mahoney Asset Management now owns 780 shares of the software maker’s stock valued at $152,000 after acquiring an additional 70 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its position in shares of Paylocity by 1.8% during the 1st quarter. First Republic Investment Management Inc. now owns 4,744 shares of the software maker’s stock valued at $976,000 after acquiring an additional 83 shares during the last quarter. 74.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of recent research reports. Mizuho reiterated a “neutral” rating and set a $225.00 price objective on shares of Paylocity in a research report on Wednesday. BMO Capital Markets increased their price objective on Paylocity from $230.00 to $246.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Citigroup increased their price objective on Paylocity from $219.00 to $253.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. TD Cowen increased their target price on Paylocity from $253.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Barclays increased their target price on Paylocity from $204.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $260.79.

View Our Latest Research Report on PCTY

Paylocity Stock Performance

Shares of NASDAQ:PCTY opened at $198.05 on Friday. The company has a market cap of $11.07 billion, a P/E ratio of 79.22 and a beta of 1.11. The stock’s 50-day moving average is $201.17 and its 200-day moving average is $192.41. Paylocity Holding Co. has a 52-week low of $160.00 and a 52-week high of $269.34.

Paylocity (NASDAQ:PCTY – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.15. The company had revenue of $308.45 million for the quarter, compared to the consensus estimate of $301.43 million. Paylocity had a return on equity of 21.89% and a net margin of 11.99%. As a group, equities analysts predict that Paylocity Holding Co. will post 3.45 EPS for the current year.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 1,796 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $200.11, for a total value of $359,397.56. Following the completion of the sale, the director now owns 9,911,252 shares in the company, valued at $1,983,340,637.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Paylocity news, Director Bernard Robinson Kenneth sold 275 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $202.11, for a total transaction of $55,580.25. Following the completion of the transaction, the director now owns 3,031 shares in the company, valued at $612,595.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 1,796 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $200.11, for a total transaction of $359,397.56. Following the transaction, the director now owns 9,911,252 shares of the company’s stock, valued at approximately $1,983,340,637.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,719 shares of company stock worth $29,617,521. Company insiders own 26.50% of the company’s stock.

Paylocity Profile

(Free Report)

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.