Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 56,127 shares of the software maker’s stock after selling 1,909 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Paylocity were worth $11,196,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after purchasing an additional 7,707 shares in the last quarter. Certuity LLC purchased a new stake in shares of Paylocity during the fourth quarter worth about $232,000. Edgestream Partners L.P. raised its position in shares of Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after buying an additional 7,475 shares during the last quarter. Barclays PLC lifted its stake in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after buying an additional 5,609 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after acquiring an additional 5,742 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 2,900 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $208.59, for a total transaction of $604,911.00. Following the completion of the sale, the director now directly owns 8,945,315 shares of the company’s stock, valued at approximately $1,865,903,255.85. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Glenn sold 2,600 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the completion of the transaction, the chief financial officer now owns 48,150 shares in the company, valued at $9,890,010. This represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,349 shares of company stock worth $14,121,177. 21.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PCTY shares. Barclays boosted their price target on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Stifel Nicolaus upped their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. KeyCorp upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, UBS Group increased their price objective on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Price Performance

Paylocity stock opened at $200.40 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $11.20 billion, a P/E ratio of 51.38, a PEG ratio of 4.49 and a beta of 0.95. The firm has a fifty day moving average of $203.14 and a 200-day moving average of $186.90. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. As a group, analysts predict that Paylocity Holding Co. will post 4.36 EPS 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.