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

Parkside Financial Bank & Trust lowered its position in Paylocity Holding Co. (NASDAQ:PCTY) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,507 shares of the software maker’s stock after selling 87 shares during the period. Parkside Financial Bank & Trust’s holdings in Paylocity were worth $301,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its position in shares of Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock valued at $273,000 after acquiring an additional 58 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after acquiring an additional 82 shares in the last quarter. Covestor Ltd lifted its position in shares of Paylocity by 6.4% in the third quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after acquiring an additional 83 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Paylocity by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker’s stock valued at $2,414,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Activity

In other news, CFO Ryan Glenn sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the transaction, the chief financial officer now owns 48,150 shares of the company’s stock, valued at approximately $9,890,010. This represents a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 6,900 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $209.02, for a total value of $1,442,238.00. Following the transaction, the director now directly owns 8,933,409 shares in the company, valued at approximately $1,867,261,149.18. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,349 shares of company stock valued at $14,121,177. 21.91% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Raymond James restated 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. Barclays boosted their price objective on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. KeyCorp boosted their target price on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, UBS Group boosted their target price on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Trading Up 1.9 %

Shares of PCTY stock opened at $204.29 on Friday. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $203.22 and its two-hundred day simple moving average is $187.00. The company has a market cap of $11.42 billion, a PE ratio of 52.38, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 6th. The software maker reported $0.82 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%. Research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

About Paylocity

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.