William Blair Investment Management LLC Sells 475,421 Shares of Paylocity Holding Corporation $PCTY

William Blair Investment Management LLC lessened its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 99.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,474 shares of the software maker’s stock after selling 475,421 shares during the period. William Blair Investment Management LLC’s holdings in Paylocity were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Paylocity by 22.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock valued at $88,459,000 after acquiring an additional 100,400 shares during the last quarter. American Century Companies Inc. raised its position in Paylocity by 4.0% during the second quarter. American Century Companies Inc. now owns 534,843 shares of the software maker’s stock valued at $96,909,000 after purchasing an additional 20,649 shares during the period. AQR Capital Management LLC lifted its stake in shares of Paylocity by 500.6% in the 2nd quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after purchasing an additional 375,023 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Paylocity by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 434,789 shares of the software maker’s stock worth $78,779,000 after purchasing an additional 5,623 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Paylocity by 120.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock worth $62,042,000 after purchasing an additional 186,952 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 5.4%

Shares of NASDAQ PCTY opened at $113.60 on Wednesday. Paylocity Holding Corporation has a twelve month low of $100.50 and a twelve month high of $203.70. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $131.32 and a two-hundred day simple moving average of $147.71. The firm has a market cap of $6.12 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 3.10 and a beta of 0.58.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.57 by $0.28. The business had revenue of $416.13 million during 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 company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 EPS. Analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCTY. Stifel Nicolaus reduced their target price on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Citizens Jmp reduced their price objective on shares of Paylocity from $245.00 to $170.00 and set a “market outperform” rating on the stock in a research report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Paylocity in a research report on Friday, February 6th. Barclays set a $146.00 target price on Paylocity in a research note on Friday, February 6th. Finally, Jefferies Financial Group reduced their price target on Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.05.

About Paylocity

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.