Johnson Investment Counsel Inc. Has $1.16 Million Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Johnson Investment Counsel Inc. trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,814 shares of the software maker’s stock after selling 329 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Paylocity were worth $1,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Paylocity by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after buying an additional 278,607 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Paylocity by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,158,224 shares of the software maker’s stock worth $685,483,000 after acquiring an additional 13,962 shares during the period. Wasatch Advisors LP grew its position in shares of Paylocity by 35.0% in the first quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock valued at $411,895,000 after purchasing an additional 621,946 shares during the last quarter. Capital International Investors increased its stake in shares of Paylocity by 119.0% during the fourth quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock worth $199,637,000 after purchasing an additional 658,057 shares during the period. Finally, Liontrust Investment Partners LLP lifted its holdings in Paylocity by 27.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s 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 transaction, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $140.06, for a total transaction of $196,084.00. Following the transaction, the chief financial officer now directly owns 31,074 shares in the company, valued at approximately $4,352,224.44. The disclosure for this sale can be found here. Insiders sold 51,173 shares of company stock worth $7,296,388 over the last three months. Company insiders own 22.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PCTY has been the topic of several recent research reports. BTIG Research lowered their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group lowered their price target on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. KeyCorp cut their price objective on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating for the company in a report on Friday, July 19th. TD Cowen lowered their target price on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Finally, Truist Financial dropped their price target on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Seven equities 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 stock has a consensus rating of “Moderate Buy” and an average target price of $179.13.

Paylocity Trading Up 2.5 %

Shares of Paylocity stock opened at $159.53 on Friday. The firm has a market capitalization of $8.87 billion, a PE ratio of 46.38, a price-to-earnings-growth ratio of 3.82 and a beta of 0.94. The firm’s 50 day moving average is $151.57 and its 200 day moving average is $155.11. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $206.28.

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

Paylocity Profile

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.