Swiss National Bank Sells 3,100 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Swiss National Bank cut its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.2% in the 4th quarter, HoldingsChannel reports. The firm owned 140,550 shares of the software maker’s stock after selling 3,100 shares during the period. Swiss National Bank’s holdings in Paylocity were worth $23,170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCTY. Nordea Investment Management AB lifted its holdings in shares of Paylocity by 195.8% during the 3rd quarter. Nordea Investment Management AB now owns 6,280 shares of the software maker’s stock worth $1,156,000 after acquiring an additional 4,157 shares during the last quarter. Vanguard Group Inc. lifted its stake in Paylocity by 0.6% during the third quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock worth $753,012,000 after purchasing an additional 25,562 shares during the last quarter. Trust Point Inc. purchased a new position in shares of Paylocity in the 4th quarter worth about $1,023,000. Walleye Capital LLC increased its position in shares of Paylocity by 132.0% during the 3rd quarter. Walleye Capital LLC now owns 14,623 shares of the software maker’s stock valued at $2,657,000 after purchasing an additional 8,319 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Paylocity by 98.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,771 shares of the software maker’s stock valued at $2,600,000 after buying an additional 7,828 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction that occurred on 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 sale, the director now directly owns 9,587,872 shares of the company’s stock, valued at approximately $1,682,383,899.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Steven I. Sarowitz sold 24,504 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $175.47, for a total value of $4,299,716.88. Following the completion of the transaction, the director now owns 9,587,872 shares in the company, valued at approximately $1,682,383,899.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 20,032 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the sale, the director now directly owns 16,391 shares in the company, valued at $2,762,703.05. The disclosure for this sale can be found here. Insiders have sold 54,547 shares of company stock worth $9,356,359 over the last 90 days. 22.50% of the stock is owned by company insiders.

Paylocity Stock Down 0.5 %

Shares of Paylocity stock opened at $168.28 on Thursday. The business has a 50 day moving average of $165.31 and a 200 day moving average of $162.71. 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 $9.50 billion, a PE ratio of 48.92, a P/E/G ratio of 3.63 and a beta of 0.88.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $326.36 million during the quarter, compared to analyst estimates of $324.34 million. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. On average, research analysts anticipate that Paylocity Holding Co. will post 3.48 earnings per share for the current year.

Analysts Set New Price Targets

PCTY has been the subject of several research reports. KeyCorp upped their target price on Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 target price on shares of Paylocity in a report on Friday, May 3rd. BTIG Research assumed coverage on shares of Paylocity in a research note on Tuesday, February 6th. They issued a “buy” rating and a $200.00 price target for the company. Citigroup raised their price objective on Paylocity from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Finally, Truist Financial dropped their target price on Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $196.67.

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.