OLD National Bancorp IN reduced its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 39.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,869 shares of the software maker’s stock after selling 4,416 shares during the period. OLD National Bancorp IN’s holdings in Paylocity Holding Corporation were worth $310,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Paylocity Holding Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,994,306 shares of the software maker’s stock worth $77,040,000 after buying an additional 76,297 shares during the period. FMR LLC increased its position in shares of Paylocity Holding Corporation by 6.3% in the first quarter. FMR LLC now owns 1,865,649 shares of the software maker’s stock worth $72,070,000 after buying an additional 111,335 shares during the period. Janus Capital Management LLC increased its position in shares of Paylocity Holding Corporation by 6.5% in the first quarter. Janus Capital Management LLC now owns 719,840 shares of the software maker’s stock worth $27,807,000 after buying an additional 43,791 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Paylocity Holding Corporation by 31.2% in the first quarter. Artisan Partners Limited Partnership now owns 706,726 shares of the software maker’s stock worth $27,301,000 after buying an additional 167,919 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Paylocity Holding Corporation by 20.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 490,959 shares of the software maker’s stock worth $18,966,000 after buying an additional 83,478 shares during the period. 63.61% of the stock is owned by institutional investors and hedge funds.
Paylocity Holding Corporation (PCTY) traded up 2.51% during mid-day trading on Tuesday, hitting $46.61. 98,293 shares of the stock were exchanged. The stock’s 50-day moving average is $46.48 and its 200 day moving average is $40.68. The company has a market capitalization of $2.40 billion, a PE ratio of 466.10 and a beta of 2.28. Paylocity Holding Corporation has a 52 week low of $29.69 and a 52 week high of $49.65.
A number of brokerages have recently commented on PCTY. ValuEngine raised shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. SunTrust Banks, Inc. began coverage on shares of Paylocity Holding Corporation in a research report on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective for the company. Zacks Investment Research downgraded shares of Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. JMP Securities reissued an “outperform” rating and issued a $54.00 price objective on shares of Paylocity Holding Corporation in a research report on Tuesday, July 18th. Finally, BidaskClub downgraded shares of Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Paylocity Holding Corporation has a consensus rating of “Hold” and an average target price of $48.82.
In related news, VP Michael R. Haske sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $44.62, for a total value of $4,462,000.00. Following the sale, the vice president now directly owns 1,278,206 shares of the company’s stock, valued at $57,033,551.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 172,699 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $44.37, for a total transaction of $7,662,654.63. Following the transaction, the director now owns 16,337,902 shares in the company, valued at $724,912,711.74. The disclosure for this sale can be found here. Insiders have sold 355,021 shares of company stock valued at $15,942,057 in the last quarter. Company insiders own 53.10% of the company’s stock.
Paylocity Holding Corporation Company Profile
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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