Bell Bank Sells 99 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Bell Bank decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTYFree Report) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,636 shares of the software maker’s stock after selling 99 shares during the quarter. Bell Bank’s holdings in Paylocity were worth $479,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Coppell Advisory Solutions Corp. bought a new position in Paylocity in the 4th quarter valued at $44,000. V Square Quantitative Management LLC acquired a new stake in Paylocity in the second quarter worth about $47,000. Benjamin Edwards Inc. bought a new stake in Paylocity during the 2nd quarter worth about $47,000. UniSuper Management Pty Ltd acquired a new position in Paylocity during the 2nd quarter valued at about $55,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Paylocity by 19.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 327 shares of the software maker’s stock valued at $60,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 73.65% of the company’s stock.

Analysts Set New Price Targets

PCTY has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Paylocity from $249.00 to $207.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Needham & Company LLC dropped their target price on shares of Paylocity from $325.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. KeyCorp dropped their target price on shares of Paylocity from $255.00 to $197.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. TheStreet cut shares of Paylocity from a “b-” rating to a “c+” rating in a research report on Thursday, November 2nd. Finally, Mizuho dropped their target price on shares of Paylocity from $225.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $218.65.

Get Our Latest Stock Analysis on PCTY

Paylocity Stock Up 1.4 %

Shares of NASDAQ:PCTY traded up $2.15 during mid-day trading on Friday, reaching $154.62. 517,592 shares of the stock were exchanged, compared to its average volume of 380,826. The company has a market cap of $8.69 billion, a P/E ratio of 60.16, a P/E/G ratio of 2.64 and a beta of 0.93. Paylocity Holding Co. has a one year low of $139.40 and a one year high of $235.00. The stock’s 50 day simple moving average is $156.68 and its 200-day simple moving average is $182.50.

Paylocity (NASDAQ:PCTYGet Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $317.59 million during the quarter, compared to the consensus estimate of $316.58 million. Paylocity had a return on equity of 20.73% and a net margin of 11.70%. Analysts anticipate that Paylocity Holding Co. will post 3.46 EPS for the current fiscal year.

Paylocity Company Profile

(Free Report)

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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