Nicholas Company Inc. Sells 95 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Nicholas Company Inc. cut its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 0.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 143,553 shares of the software maker’s stock after selling 95 shares during the period. Nicholas Company Inc.’s holdings in Paylocity were worth $28,635,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Gallacher Capital Management LLC lifted its position in Paylocity by 4.6% in the fourth quarter. Gallacher Capital Management LLC now owns 1,989 shares of the software maker’s stock worth $397,000 after buying an additional 88 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Paylocity by 15.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,886 shares of the software maker’s stock worth $975,000 after purchasing an additional 665 shares during the period. Natixis Advisors LLC purchased a new position in shares of Paylocity during the fourth quarter valued at $2,187,000. Vestcor Inc increased its stake in shares of Paylocity by 50.0% during the fourth quarter. Vestcor Inc now owns 15,000 shares of the software maker’s stock valued at $2,992,000 after buying an additional 5,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Paylocity by 162.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,623 shares of the software maker’s stock valued at $6,906,000 after buying an additional 21,432 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $186.24 on Friday. 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 company has a market cap of $10.41 billion, a PE ratio of 47.75, a P/E/G ratio of 4.49 and a beta of 0.94. The business 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 fifty-two week low of $129.94 and a fifty-two week high of $223.80.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS 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%. As a group, equities analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the sale, the director now owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 18,566 shares of company stock valued at $3,755,321 over the last quarter. 21.91% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on PCTY shares. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group lifted 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. Mizuho upgraded 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. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and lifted their target price for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, Needham & Company LLC lifted their target price on 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 given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.25.

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.