Wells Fargo & Company MN Sells 43,986 Shares of Paylocity Holding Corporation (PCTY)

Wells Fargo & Company MN lessened its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,664,020 shares of the software maker’s stock after selling 43,986 shares during the quarter. Wells Fargo & Company MN owned 3.23% of Paylocity Holding Corporation worth $75,180,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PCTY. Bank of Montreal Can boosted its stake in shares of Paylocity Holding Corporation by 29.2% in the 1st quarter. Bank of Montreal Can now owns 3,377 shares of the software maker’s stock valued at $130,000 after buying an additional 764 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Paylocity Holding Corporation by 562.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock valued at $149,000 after buying an additional 2,796 shares during the period. Turner Investments LLC purchased a new position in shares of Paylocity Holding Corporation in the 2nd quarter valued at about $158,000. Invictus RG purchased a new position in shares of Paylocity Holding Corporation in the 1st quarter valued at about $198,000. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Paylocity Holding Corporation in the 2nd quarter valued at about $287,000. Institutional investors and hedge funds own 60.87% of the company’s stock.

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Several equities analysts have recently issued reports on the company. Bank of America Corporation reiterated a “buy” rating and issued a $47.00 price objective (down previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Mizuho reiterated a “hold” rating and issued a $45.00 price objective on shares of Paylocity Holding Corporation in a research note on Thursday, August 10th. Raymond James Financial, Inc. set a $55.00 price objective on Paylocity Holding Corporation and gave the company a “buy” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Finally, BidaskClub cut Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.46.

In related news, Director Jeffrey T. Diehl sold 1,155,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $45.00, for a total value of $51,975,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Edward W. Gaty sold 5,185 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $48.92, for a total value of $253,650.20. Following the completion of the sale, the senior vice president now directly owns 116,135 shares in the company, valued at approximately $5,681,324.20. The disclosure for this sale can be found here. In the last three months, insiders sold 1,510,185 shares of company stock worth $68,035,096. Company insiders own 53.10% of the company’s stock.

Paylocity Holding Corporation (NASDAQ:PCTY) opened at 47.28 on Friday. The stock has a 50 day moving average price of $46.28 and a 200-day moving average price of $43.37. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 394.00 and a beta of 2.25. Paylocity Holding Corporation has a 12-month low of $29.69 and a 12-month high of $49.65.

Paylocity Holding Corporation (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $76.10 million for the quarter, compared to the consensus estimate of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The business’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. Equities analysts forecast that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.

Paylocity Holding Corporation Profile

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

Institutional Ownership by Quarter for Paylocity Holding Corporation (NASDAQ:PCTY)

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