Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,699 shares of the software maker’s stock after selling 2,074 shares during the period. Corebridge Financial Inc. owned about 0.09% of Paylocity worth $9,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Certuity LLC purchased a new position in shares of Paylocity in the 4th quarter valued at about $232,000. Edgestream Partners L.P. raised its holdings in 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 acquiring an additional 7,475 shares in the last quarter. Barclays PLC lifted its stake in Paylocity by 14.3% in the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after acquiring an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Paylocity by 5,742.0% during the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after purchasing an additional 4,697 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $194.12 on Thursday. The stock’s 50-day moving average price is $201.57 and its 200 day moving average price is $192.05. 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 stock has a market capitalization of $10.85 billion, a PE ratio of 49.77, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Barclays increased their price objective on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. TD Cowen decreased their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Stifel Nicolaus increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the transaction, the director now owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This represents a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 52,095 shares of company stock valued at $10,076,554. 21.91% of the stock is owned by corporate insiders.

Paylocity Company 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.