Cigna Investments Inc. New lessened its holdings in shares of Paylocity Holding Co. (NASDAQ: PCTY – Get Rating) by 29.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 861 shares of the software maker’s stock after selling 360 shares during the quarter. Cigna Investments Inc. New’s holdings in Paylocity were worth $ 204,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Invesco Ltd. raised its position in Paylocity by 9.3% during the fourth quarter. Invesco Ltd. now owns 1,145,240 shares of the software maker’s stock valued at $ 270,460,000 after acquiring an additional 97,679 shares in the last quarter. State Street Corp raised its position in Paylocity by 3.1% during the fourth quarter. State Street Corp now owns 997,524 shares of the software maker’s stock valued at $ 235,575,000 after acquiring an additional 29,876 shares in the last quarter. Capital Research Global Investors raised its position in Paylocity by 315.2% during the third quarter. Capital Research Global Investors now owns 735,262 shares of the software maker’s stock valued at $ 206,167,000 after acquiring an additional 558,180 shares in the last quarter. GW&K Investment Management LLC raised its position in Paylocity by 1.2% during the fourth quarter. GW&K Investment Management LLC now owns 542,975 shares of the software maker’s stock valued at $ 128,229,000 after acquiring an additional 6,372 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Paylocity by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 542,561 shares of the software maker’s stock valued at $ 128,131,000 after purchasing an additional 27,309 shares during the period. 69.01% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CAO Nicholas Rost sold 276 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $ 200.00, for a total value of $ 55,200.00. Following the sale, the chief accounting officer now owns 2,816 shares in the company, valued at approximately $ 563,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 48,930 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $ 163.12, for a total transaction of $ 7,981,461.60. Following the completion of the sale, the director now owns 11,467,247 shares in the company, valued at approximately $ 1,870,537,330.64. The disclosure for this sale can be found here. 28.80% of the stock is owned by insiders.
PCTY opened at $ 173.42 on Friday. Paylocity Holding Co. has a fifty-two week low of $ 152.97 and a fifty-two week high of $ 314.49. The firm’s fifty day moving average price is $ 185.15 and its two-hundred day moving average price is $ 203.69. The company has a market capitalization of $ 9.56 billion, a P / E ratio of 111.88 and a beta of 1.30.
Paylocity (NASDAQ: PCTY – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The software maker reported $ 0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $ 0.59 by $ 0.20. Paylocity had a net margin of 11.06% and a return on equity of 17.32%. The firm had revenue of $ 245.97 million for the quarter, compared to the estimate consensus of $ 241.64 million. During the same quarter in the previous year, the company earned $ 0.67 earnings per share. The business’s revenue was up 32.2% compared to the same quarter last year. On average, analysts forecast that Paylocity Holding Co. will post 1.44 earnings per share for the current fiscal year.
PCTY has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Paylocity from $ 255.00 to $ 200.00 in a research report on Monday, May 23rd. Cowen dropped their price target on shares of Paylocity from $ 265.00 to $ 240.00 in a research report on Friday, May 6th. Wolfe Research raised shares of Paylocity from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $ 220.00 to $ 240.00 in a research report on Friday, April 22nd. Credit Suisse Group initiated coverage on shares of Paylocity in a research report on Wednesday, March 23rd. They issued a “neutral” rating and a $ 225.00 price target on the stock. Finally, StockNews.com initiated coverage on shares of Paylocity in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 250.25.
About Paylocity: (Get Rating)
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.
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