Pictet Asset Management Holding SA Purchases 48,380 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Pictet Asset Management increased its Paylocity stake by 32.3%, buying 48,380 shares in Q4 to hold 198,150 shares (about 0.36% of the company) valued at roughly $30.22 million per its SEC filing.
• Institutional ownership stands at 94.76%, with other large moves including Assenagon's 311.5% increase to 432,070 shares and JPMorgan adding 100,400 shares, signaling strong institutional interest.
• Analysts and fundamentals: several firms cut price targets (e.g., BTIG $180→$150, UBS $150→$145) but consensus is a "Moderate Buy" with an average target of $177.21; Paylocity also beat Q earnings (EPS $1.85 vs. $1.57) and reported revenue of $416.13M, +10.4% year-over-year.

Pictet Asset Management Holding SA increased its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 198,150 shares of the software maker's stock after buying an additional 48,380 shares during the quarter. Pictet Asset Management Holding SA owned 0.36% of Paylocity worth $30,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCTY. JPMorgan Chase & Co. lifted its position in shares of Paylocity by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker's stock worth $88,459,000 after purchasing an additional 100,400 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Paylocity in the 3rd quarter valued at $2,580,000. Sawgrass Asset Management LLC bought a new stake in Paylocity during the 3rd quarter worth about $9,156,000. Assenagon Asset Management S.A. lifted its position in Paylocity by 311.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker's stock worth $65,891,000 after buying an additional 327,082 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Paylocity by 80.3% during the 3rd quarter. AlphaQuest LLC now owns 24,804 shares of the software maker's stock worth $3,951,000 after buying an additional 11,050 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BTIG Research lowered their target price on Paylocity from $180.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. UBS Group decreased their price target on Paylocity from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, February 6th. Robert W. Baird set a $220.00 price target on Paylocity in a research report on Friday, February 6th. BMO Capital Markets dropped their price objective on Paylocity from $185.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, February 6th. Finally, Stephens set a $160.00 price objective on Paylocity in a report on Friday, January 16th. Fifteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $177.21.

Paylocity Trading Up 5.5%

Shares of NASDAQ:PCTY opened at $107.94 on Thursday. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $201.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $5.82 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 2.93 and a beta of 0.57. The company has a 50-day simple moving average of $106.95 and a 200 day simple moving average of $130.23.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The firm had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. During the same quarter in the previous year, the business earned $1.52 earnings per share. The business's revenue was up 10.4% compared to the same quarter last year. Sell-side analysts forecast that Paylocity Holding Corporation will post 5.31 earnings per share for the current year.

Paylocity Company Profile

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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