Kennedy Capital Management LLC Cuts Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Kennedy Capital Management LLC lowered its position in Paylocity Holding Co. (NASDAQ:PCTY) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,501 shares of the software maker’s stock after selling 270 shares during the period. Kennedy Capital Management LLC’s holdings in Paylocity were worth $4,089,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock worth $803,745,000 after buying an additional 46,183 shares in the last quarter. Invesco Ltd. increased its position in shares of Paylocity by 31.7% during the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker’s stock valued at $265,737,000 after acquiring an additional 320,319 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Paylocity by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock worth $214,275,000 after acquiring an additional 25,182 shares during the period. JPMorgan Chase & Co. boosted its position in Paylocity by 0.8% in the fourth quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock worth $172,300,000 after purchasing an additional 7,251 shares during the last quarter. Finally, FMR LLC grew its stake in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker’s stock valued at $129,775,000 after purchasing an additional 377,835 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 470,452 shares of the company’s stock, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. KeyCorp lifted their target price on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Stifel Nicolaus lifted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. TD Cowen reduced their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays raised their price target on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and upped their price objective for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Trading Up 1.9 %

Shares of PCTY opened at $187.27 on Friday. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The stock has a market cap of $10.47 billion, a PE ratio of 48.02, 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. The business’s 50-day moving average price is $196.14 and its 200-day moving average price is $194.08.

Paylocity (NASDAQ:PCTY) last posted its earnings results 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 return on equity of 22.45% and a net margin of 14.76%. On average, equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

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.