Alliancebernstein L.P. Has $10.43 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Alliancebernstein L.P. lessened its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 68.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 52,273 shares of the software maker’s stock after selling 112,045 shares during the quarter. Alliancebernstein L.P.’s holdings in Paylocity were worth $10,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Paylocity during the fourth quarter worth approximately $29,000. UMB Bank n.a. lifted its holdings in 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 purchasing an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after buying an additional 63 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after buying an additional 116 shares during the period. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

PCTY has been the topic of several research reports. JMP Securities upped their price target on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and raised their target price for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Stifel Nicolaus boosted their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Needham & Company LLC raised their price objective on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Stock Performance

Paylocity stock opened at $183.78 on Friday. The stock has a market cap of $10.27 billion, a PE ratio of 47.12, a P/E/G ratio of 4.49 and a beta of 0.76. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The business’s 50-day moving average price is $196.61 and its two-hundred day moving average price is $193.91.

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

Insider Activity

In related news, Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the sale, the director now owns 470,452 shares in the company, valued at $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.91% of the stock is owned by corporate insiders.

Paylocity 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.