Amundi Sells 2,107 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Amundi decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 7.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,602 shares of the software maker’s stock after selling 2,107 shares during the period. Amundi’s holdings in Paylocity were worth $4,784,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after purchasing an additional 229,057 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Paylocity by 297.6% during the 3rd quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock valued at $19,724,000 after purchasing an additional 89,487 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Paylocity by 113.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock valued at $15,904,000 after purchasing an additional 51,276 shares during the last quarter. Finally, FMR LLC lifted its holdings in Paylocity by 19.3% in the 3rd quarter. FMR LLC now owns 272,764 shares of the software maker’s stock worth $44,998,000 after buying an additional 44,118 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PCTY shares. UBS Group boosted their target price on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $200.00 to $235.00 in a research note on Friday, January 31st. JMP Securities increased their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Finally, Raymond James reaffirmed an “outperform” rating and set a $265.00 price objective (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 11,473 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $203.37, for a total transaction of $2,333,264.01. Following the transaction, the director now owns 8,344,545 shares in the company, valued at approximately $1,697,030,116.65. This represents a 0.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 18,566 shares of company stock valued at $3,755,321 over the last ninety days. Insiders own 21.91% of the company’s stock.

Paylocity Stock Up 1.7 %

Shares of Paylocity stock opened at $186.24 on Friday. The company has a 50-day simple moving average of $201.95 and a two-hundred day simple moving average of $190.22. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $10.41 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94.

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 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%. On average, analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

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.