Handelsbanken Fonder AB lifted its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 17.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,351 shares of the software maker's stock after acquiring an additional 2,000 shares during the quarter. Handelsbanken Fonder AB's holdings in Paylocity were worth $2,501,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Certuity LLC purchased a new stake in Paylocity in the 4th quarter worth approximately $232,000. SBI Securities Co. Ltd. purchased a new stake in Paylocity in the 4th quarter worth approximately $29,000. Charles Schwab Investment Management Inc. lifted its position in Paylocity by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,556 shares of the software maker's stock worth $56,960,000 after buying an additional 3,130 shares in the last quarter. Vanguard Group Inc. lifted its position in Paylocity by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after buying an additional 46,183 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in Paylocity in the 4th quarter worth approximately $246,000. Hedge funds and other institutional investors own 94.76% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PCTY. Barclays increased their target price on shares of Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Raymond James reiterated an "outperform" rating and issued a $235.00 target price (down previously from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and issued a $270.00 target price on shares of Paylocity in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Piper Sandler restated an "overweight" rating and set a $258.00 price target (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $223.00.
Get Our Latest Research Report on Paylocity
Insiders Place Their Bets
In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This trade represents a 5.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 21.91% of the company's stock.
Paylocity Stock Performance
NASDAQ:PCTY traded down $5.17 during midday trading on Friday, reaching $176.81. The stock had a trading volume of 819,778 shares, compared to its average volume of 454,420. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm's fifty day simple moving average is $190.15 and its 200-day simple moving average is $196.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $9.77 billion, a P/E ratio of 45.34, a PEG ratio of 4.49 and a beta of 0.53.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The business had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. During the same period last year, the business posted $2.21 EPS. Paylocity's revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.
About Paylocity
(
Free Report)
Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.
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