Gilbert & Cook Inc. Has $315,000 Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Gilbert & Cook Inc. lowered its position in Paylocity Holding Co. (NASDAQ:PCTY) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,392 shares of the software maker’s stock after selling 240 shares during the quarter. Gilbert & Cook Inc.’s holdings in Paylocity were worth $315,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC grew its holdings in Paylocity by 144.1% during the first quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock worth $29,000 after purchasing an additional 98 shares during the period. American National Bank acquired a new position in shares of Paylocity during the 4th quarter worth approximately $31,000. Rothschild Investment LLC bought a new stake in Paylocity in the 2nd quarter valued at $40,000. Principal Securities Inc. bought a new stake in shares of Paylocity during the 4th quarter worth about $41,000. Finally, J.Safra Asset Management Corp boosted its holdings in shares of Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after acquiring an additional 108 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the sale, the chief executive officer now directly owns 1,745,022 shares in the company, valued at $248,979,738.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nicholas Rost sold 331 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the completion of the sale, the chief accounting officer now directly owns 4,751 shares in the company, valued at $659,106.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,173 shares of company stock valued at $7,296,388. Insiders own 22.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PCTY. TD Cowen decreased their target price on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Citigroup reduced their target price on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Truist Financial dropped their price target on Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Barclays cut their price objective on shares of Paylocity from $160.00 to $156.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, Piper Sandler decreased their target price on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.13.

Paylocity Stock Down 0.5 %

NASDAQ PCTY opened at $161.40 on Tuesday. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $206.28. The business’s fifty day moving average is $147.04 and its 200 day moving average is $155.89. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 46.92, a price-to-earnings-growth ratio of 3.91 and a beta of 0.92.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.19. The company had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. On average, research analysts anticipate that Paylocity Holding Co. will post 4.51 earnings per share for the current fiscal year.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.