Cerity Partners LLC Has $3.14 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Cerity Partners LLC trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 7.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,727 shares of the software maker’s stock after selling 1,319 shares during the period. Cerity Partners LLC’s holdings in Paylocity were worth $3,137,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Paylocity in the fourth quarter worth $29,000. UMB Bank n.a. grew its stake in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after buying an additional 72 shares during the period. EverSource Wealth Advisors LLC increased its position in Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after buying an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after buying an additional 63 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCTY. StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Stifel Nicolaus lifted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and upped their target price for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Paylocity has an average 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 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 value of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.91% of the company’s stock.

Paylocity Price Performance

PCTY opened at $187.40 on Tuesday. The firm has a market cap of $10.47 billion, a P/E ratio of 48.05, a PEG ratio of 4.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The firm has a 50-day moving average of $195.70 and a 200 day moving average of $194.48.

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