Zurcher Kantonalbank Zurich Cantonalbank Has $2.60 Million Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 98.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,771 shares of the software maker’s stock after purchasing an additional 7,828 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Paylocity were worth $2,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. RiverPark Advisors LLC acquired a new position in Paylocity during the 3rd quarter worth $43,000. CWM LLC lifted its position in shares of Paylocity by 18.1% during the 3rd quarter. CWM LLC now owns 412 shares of the software maker’s stock worth $75,000 after purchasing an additional 63 shares during the last quarter. Signaturefd LLC boosted its stake in Paylocity by 115.5% during the 3rd quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock valued at $91,000 after purchasing an additional 269 shares during the period. Covestor Ltd grew its holdings in Paylocity by 18.6% in the 3rd quarter. Covestor Ltd now owns 836 shares of the software maker’s stock valued at $152,000 after buying an additional 131 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in Paylocity in the 3rd quarter worth approximately $192,000. 94.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PCTY. JMP Securities restated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, January 22nd. Citigroup raised their price target on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Paylocity in a research report on Friday, February 9th. KeyCorp reduced their target price on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Finally, Jefferies Financial Group restated a “hold” rating and set a $180.00 price target (down from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Paylocity Price Performance

Paylocity stock opened at $158.88 on Wednesday. Paylocity Holding Co. has a 52-week low of $139.40 and a 52-week high of $230.52. The stock has a fifty day moving average price of $168.25 and a two-hundred day moving average price of $165.49. The firm has a market capitalization of $8.95 billion, a P/E ratio of 53.68, a P/E/G ratio of 3.46 and a beta of 0.87.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $326.36 million during the quarter, compared to analysts’ expectations of $324.34 million. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. On average, equities research analysts predict that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Insider Transactions at Paylocity

In related news, CEO Steven R. Beauchamp sold 7,760 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,746,468 shares of the company’s stock, valued at approximately $291,572,832.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Paylocity news, CEO Steven R. Beauchamp sold 7,760 shares of the stock in a transaction dated Friday, March 1st. The shares were 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 of the company’s stock, valued at approximately $291,572,832.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 24,504 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the transaction, the director now directly owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The disclosure for this sale can be found here. Insiders have sold 54,547 shares of company stock valued at $9,356,359 in the last three months. 22.50% of the stock is owned by corporate insiders.

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.