Oppenheimer Asset Management Inc. Decreases Stock Position in Paylocity Holding Corporation $PCTY

by · The Cerbat Gem

Oppenheimer Asset Management Inc. trimmed its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY – Free Report) by 13.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,129 shares of the software maker’s stock after selling 6,438 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.08% of Paylocity worth $6,869,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Amiral Gestion raised its position in shares of Paylocity by 37.6% in the third quarter. Amiral Gestion now owns 84,703 shares of the software maker’s stock valued at $13,491,000 after buying an additional 23,162 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Paylocity during the 2nd quarter valued at about $6,877,000. Prudential Financial Inc. raised its holdings in Paylocity by 342.1% in the 2nd quarter. Prudential Financial Inc. now owns 68,883 shares of the software maker’s stock valued at $12,481,000 after acquiring an additional 53,302 shares during the last quarter. Sawgrass Asset Management LLC purchased a new position in Paylocity in the 3rd quarter worth approximately $9,156,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Paylocity during the 2nd quarter worth approximately $2,283,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Ryan Glenn sold 1,737 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total transaction of $249,520.05. Following the completion of the transaction, the chief financial officer directly owned 77,229 shares in the company, valued at $11,093,945.85. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 19.40% of the stock is owned by company insiders.

Paylocity Price Performance

Shares of PCTY opened at $113.82 on Wednesday. The firm has a 50-day simple moving average of $143.94 and a two-hundred day simple moving average of $155.42. The stock has a market cap of $6.13 billion, a PE ratio of 26.78, a P/E/G ratio of 3.27 and a beta of 0.54. Paylocity Holding Corporation has a 1-year low of $111.91 and a 1-year high of $218.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.07.

Paylocity (NASDAQ:PCTY – Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. The firm had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. As a group, analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of analyst reports. UBS Group reduced their price objective on Paylocity from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Paylocity in a report on Thursday, January 29th. Mizuho lowered their price target on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. KeyCorp cut their price objective on shares of Paylocity from $225.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Barclays set a $146.00 target price on shares of Paylocity in a research note on Friday. Sixteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.14.

Get Our Latest Stock Analysis on Paylocity

Paylocity Profile

(Free Report)

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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