We Are One Seven LLC Has $384,000 Position in Paylocity Holding Corp (NASDAQ:PCTY)

We Are One Seven LLC lowered its stake in Paylocity Holding Corp (NASDAQ:PCTY) by 21.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,098 shares of the software maker’s stock after selling 1,087 shares during the period. We Are One Seven LLC’s holdings in Paylocity were worth $384,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC acquired a new stake in Paylocity during the 1st quarter worth $61,000. Hilton Capital Management LLC acquired a new stake in Paylocity during the 1st quarter worth $63,000. SG Americas Securities LLC acquired a new stake in Paylocity during the 1st quarter worth $132,000. BB&T Corp acquired a new stake in Paylocity during the 1st quarter worth $208,000. Finally, Hardy Reed LLC acquired a new stake in Paylocity during the 1st quarter worth $247,000. 64.18% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on PCTY. Cantor Fitzgerald began coverage on shares of Paylocity in a report on Tuesday, June 18th. They set an “overweight” rating for the company. JMP Securities boosted their price target on shares of Paylocity to $115.00 and gave the company a “market perform” rating in a report on Monday, July 22nd. Zacks Investment Research lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. SunTrust Banks boosted their price target on shares of Paylocity to $108.00 and gave the company a “positive” rating in a report on Friday, May 3rd. Finally, ValuEngine lowered shares of Paylocity from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $93.14.

In related news, Director Steven I. Sarowitz sold 166,489 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $95.53, for a total value of $15,904,694.17. Following the sale, the director now directly owns 14,569,464 shares of the company’s stock, valued at approximately $1,391,820,895.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael R. Haske sold 50,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $91.64, for a total transaction of $4,582,000.00. Following the completion of the sale, the chief operating officer now directly owns 868,334 shares in the company, valued at $79,574,127.76. The disclosure for this sale can be found here. Insiders sold a total of 285,192 shares of company stock worth $27,120,606 over the last ninety days. 41.20% of the stock is currently owned by insiders.

PCTY traded up $0.80 during trading on Thursday, hitting $102.89. The company had a trading volume of 8,505 shares, compared to its average volume of 294,269. The stock has a market capitalization of $5.48 billion, a P/E ratio of 332.10, a PEG ratio of 5.74 and a beta of 1.72. Paylocity Holding Corp has a one year low of $53.46 and a one year high of $107.94. The stock has a 50-day moving average of $100.63.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.41 by $0.19. The business had revenue of $139.60 million for the quarter, compared to analysts’ expectations of $135.97 million. Paylocity had a net margin of 9.52% and a return on equity of 15.29%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. As a group, research analysts predict that Paylocity Holding Corp will post 0.56 EPS for the current year.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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