Paylocity Holding Co. (NASDAQ:PCTY) Position Decreased by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC decreased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTYFree Report) by 31.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,471 shares of the software maker’s stock after selling 62,193 shares during the period. Zevenbergen Capital Investments LLC owned approximately 0.25% of Paylocity worth $22,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PCTY. American National Bank purchased a new stake in Paylocity during the fourth quarter valued at about $31,000. GAMMA Investing LLC acquired a new stake in Paylocity in the fourth quarter valued at approximately $36,000. RiverPark Advisors LLC acquired a new stake in Paylocity in the third quarter valued at approximately $43,000. Principal Securities Inc. acquired a new stake in Paylocity in the fourth quarter valued at approximately $41,000. Finally, Signaturefd LLC lifted its stake in Paylocity by 115.5% in the third quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock valued at $91,000 after acquiring an additional 269 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCTY. BTIG Research began coverage on shares of Paylocity in a research report on Tuesday, February 6th. They set a “buy” rating and a $200.00 target price on the stock. Mizuho lowered their price target on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a report on Monday, January 22nd. KeyCorp boosted their price target on shares of Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $200.00 target price on shares of Paylocity in a report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $196.67.

View Our Latest Report on Paylocity

Insiders Place Their Bets

In related news, Director Jeffrey T. Diehl sold 20,032 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the transaction, the director now owns 16,391 shares in the company, valued at approximately $2,762,703.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Paylocity news, Director Jeffrey T. Diehl sold 20,032 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the transaction, the director now owns 16,391 shares in the company, valued at approximately $2,762,703.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 7,760 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the sale, the chief executive officer now owns 1,746,468 shares in the company, valued at approximately $291,572,832.60. The disclosure for this sale can be found here. Insiders have sold 30,043 shares of company stock valued at $5,056,642 in the last three months. 22.50% of the stock is currently owned by corporate insiders.

Paylocity Price Performance

NASDAQ:PCTY traded up $0.80 on Friday, hitting $172.97. 275,239 shares of the company’s stock were exchanged, compared to its average volume of 637,021. The firm has a 50-day moving average price of $165.56 and a 200-day moving average price of $162.30. Paylocity Holding Co. has a 52 week low of $139.40 and a 52 week high of $230.52. The company has a market cap of $9.76 billion, a P/E ratio of 50.28, a price-to-earnings-growth ratio of 3.23 and a beta of 0.88.

Paylocity Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Co. (NASDAQ:PCTYFree Report).

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.