Parkside Financial Bank & Trust Sells 87 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Parkside Financial Bank & Trust trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,507 shares of the software maker’s stock after selling 87 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Paylocity were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in Paylocity during the 3rd quarter worth approximately $39,000. UMB Bank n.a. grew its position in Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after acquiring an additional 72 shares during the last quarter. Quarry LP grew its position in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after buying an additional 185 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after buying an additional 116 shares during the last quarter. Finally, Tompkins Financial Corp bought a new stake in shares of Paylocity in the 3rd quarter worth approximately $82,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Raymond James reiterated an “outperform” rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Barclays lifted their price objective on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Truist Financial raised their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value 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 approximately $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 69,349 shares of company stock valued at $14,121,177. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Up 1.9 %

Shares of NASDAQ:PCTY opened at $204.29 on Friday. The stock has a fifty day simple moving average of $203.22 and a two-hundred day simple moving average of $187.00. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 52.38, a PEG ratio of 4.49 and a beta of 0.95. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

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.