Paylocity Holding Corporation $PCTY Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 70.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 48,156 shares of the software maker’s stock after selling 116,198 shares during the quarter. Squarepoint Ops LLC’s holdings in Paylocity were worth $5,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCTY. Allworth Financial LP boosted its position in shares of Paylocity by 83.7% during the 2nd quarter. Allworth Financial LP now owns 3,235 shares of the software maker’s stock worth $338,000 after acquiring an additional 1,474 shares in the last quarter. West Family Investments Inc. acquired a new stake in shares of Paylocity during the 2nd quarter worth about $321,000. Waverly Advisors LLC lifted its stake in Paylocity by 40.6% during the second quarter. Waverly Advisors LLC now owns 3,590 shares of the software maker’s stock worth $375,000 after purchasing an additional 1,037 shares during the last quarter. Nykredit A S purchased a new stake in Paylocity during the second quarter worth approximately $256,000. Finally, Corient Private Wealth LP boosted its holdings in Paylocity by 37.6% in the second quarter. Corient Private Wealth LP now owns 149,800 shares of the software maker’s stock valued at $15,659,000 after purchasing an additional 40,971 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Craig Conway sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $156.80, for a total value of $493,136.00. Following the transaction, the director owned 2,207 shares of the company’s stock, valued at approximately $346,057.60. The trade was a 58.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew Cappotelli sold 2,550 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total value of $382,066.50. Following the sale, the senior vice president owned 44,329 shares of the company’s stock, valued at $6,641,814.07. This trade represents a 5.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 54,214 shares of company stock worth $8,322,580 over the last quarter. 19.40% of the stock is owned by insiders.

Paylocity Stock Down 0.8%

PCTY stock opened at $141.66 on Friday. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 28.62 and a beta of 0.45. The company has a fifty day moving average price of $140.06 and a 200 day moving average price of $119.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $172.21.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $431.46 million. During the same period in the prior year, the company earned $1.56 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PCTY. BTIG Research upped their target price on shares of Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Zacks Research downgraded shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings raised Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Robert W. Baird set a $201.00 target price on Paylocity in a report on Wednesday, August 5th. Finally, Cantor Fitzgerald upped their target price on Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.53.

About Paylocity

Paylocity Holding Corporation is a provider of cloud-based human capital management (HCM) and workforce management software. Its platform is designed to help organizations manage payroll, human resources, employee benefits, talent, compliance and workforce operations through a unified system.

The company’s products and services include payroll processing, time and labor management, benefits administration, recruiting, onboarding, performance management, employee surveys and workplace communication tools.