Johnson Investment Counsel Inc. Sells 329 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Johnson Investment Counsel Inc. trimmed its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,814 shares of the software maker’s stock after selling 329 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Paylocity were worth $1,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its position in Paylocity by 20.9% in the 2nd quarter. Y.D. More Investments Ltd now owns 10,848 shares of the software maker’s stock worth $1,430,000 after purchasing an additional 1,872 shares in the last quarter. Qsemble Capital Management LP purchased a new position in shares of Paylocity in the 2nd quarter worth approximately $842,000. American Century Companies Inc. boosted its stake in shares of Paylocity by 0.6% in the 2nd quarter. American Century Companies Inc. now owns 133,921 shares of the software maker’s stock worth $17,658,000 after buying an additional 787 shares during the last quarter. Ground Swell Capital LLC bought a new position in shares of Paylocity in the second quarter valued at approximately $464,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Paylocity during the second quarter valued at approximately $178,000. Institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 2.5 %

Shares of Paylocity stock opened at $159.53 on Friday. The company’s 50-day moving average price is $151.57 and its 200-day moving average price is $155.11. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 3.82 and a beta of 0.94. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $206.28.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.19. The business had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. On average, sell-side analysts predict that Paylocity Holding Co. will post 4.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCTY. Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a research note on Thursday, September 5th. TD Cowen reduced their price target on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Robert W. Baird lowered their price objective on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. Stifel Nicolaus dropped their target price on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Finally, Jefferies Financial Group decreased their price target on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.13.

Insider Activity at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total value of $7,054,384.56. Following the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Nicholas Rost sold 331 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the transaction, the chief accounting officer now directly owns 4,751 shares in the company, valued at $659,106.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the sale, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,173 shares of company stock valued at $7,296,388. Company insiders own 22.50% of the company’s stock.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.