Ameriprise Financial Inc. Lowers Stake in Paylocity Holding Corp (PCTY)

Ameriprise Financial Inc. trimmed its position in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 21.4% during the third quarter, HoldingsChannel.com reports. The firm owned 37,589 shares of the software maker’s stock after selling 10,235 shares during the period. Ameriprise Financial Inc.’s holdings in Paylocity were worth $1,835,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Paylocity by 3.8% during the second quarter. Vanguard Group Inc. now owns 2,070,015 shares of the software maker’s stock worth $93,524,000 after purchasing an additional 75,709 shares during the period. FMR LLC raised its position in shares of Paylocity by 5.2% during the second quarter. FMR LLC now owns 1,963,017 shares of the software maker’s stock worth $88,689,000 after purchasing an additional 97,368 shares during the period. Wasatch Advisors Inc. raised its position in shares of Paylocity by 8.0% during the second quarter. Wasatch Advisors Inc. now owns 863,765 shares of the software maker’s stock worth $39,025,000 after purchasing an additional 64,268 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Paylocity during the second quarter worth approximately $29,148,000. Finally, State Street Corp raised its position in shares of Paylocity by 18.4% during the second quarter. State Street Corp now owns 475,077 shares of the software maker’s stock worth $21,468,000 after purchasing an additional 73,786 shares during the period. 59.78% of the stock is currently owned by institutional investors.

Paylocity Holding Corp (NASDAQ:PCTY) opened at $47.95 on Monday. The stock has a market capitalization of $2,518.19, a price-to-earnings ratio of 266.39, a price-to-earnings-growth ratio of 6.29 and a beta of 2.11. Paylocity Holding Corp has a 12 month low of $29.69 and a 12 month high of $53.96.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The firm had revenue of $81.50 million during the quarter, compared to the consensus estimate of $80.88 million. Paylocity had a return on equity of 7.98% and a net margin of 3.11%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. equities analysts forecast that Paylocity Holding Corp will post 0.33 earnings per share for the current year.

A number of research firms recently commented on PCTY. Zacks Investment Research raised Paylocity from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Tuesday, January 2nd. BidaskClub raised Paylocity from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Northland Securities reissued a “buy” rating and issued a $55.00 price target on shares of Paylocity in a research report on Sunday, September 10th. Dougherty & Co began coverage on Paylocity in a research report on Tuesday, December 19th. They issued a “neutral” rating for the company. Finally, SunTrust Banks reissued a “hold” rating and issued a $47.00 price target on shares of Paylocity in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $52.92.

In other Paylocity news, CEO Steven R. Beauchamp sold 50,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $46.63, for a total value of $2,331,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Edward W. Gaty sold 5,062 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $45.82, for a total value of $231,940.84. Following the completion of the transaction, the senior vice president now owns 116,135 shares of the company’s stock, valued at approximately $5,321,305.70. The disclosure for this sale can be found here. Insiders sold a total of 1,376,204 shares of company stock valued at $63,542,933 in the last 90 days. Corporate insiders own 48.80% of the company’s stock.

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About Paylocity

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.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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