Swedbank AB Sells 51,000 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Swedbank AB cut its Paylocity stake by 45.8% in Q1, selling 51,000 shares and leaving it with 60,400 shares worth about $6.53 million.
• Paylocity shares rose to $118.50 in Friday trading, with the company valued at about $6.34 billion and showing a low debt-to-equity ratio of 0.07.
• Analysts remain generally positive on the stock: Paylocity has a Moderate Buy consensus rating and an average price target of $156.61, despite mixed individual target cuts and upgrades.

Swedbank AB reduced its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 45.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,400 shares of the software maker's stock after selling 51,000 shares during the period. Swedbank AB owned 0.11% of Paylocity worth $6,526,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in shares of Paylocity by 3.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker's stock worth $521,000 after purchasing an additional 106 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Paylocity by 35.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker's stock worth $77,000 after purchasing an additional 111 shares during the period. Fisher Asset Management LLC boosted its stake in Paylocity by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker's stock worth $1,126,000 after purchasing an additional 122 shares during the period. True Wealth Design LLC grew its holdings in Paylocity by 43.4% during the 4th quarter. True Wealth Design LLC now owns 410 shares of the software maker's stock valued at $63,000 after buying an additional 124 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Paylocity by 0.4% during the 4th quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker's stock valued at $4,535,000 after buying an additional 128 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

Shares of NASDAQ PCTY traded up $1.88 during mid-day trading on Friday, hitting $118.50. 579,034 shares of the company's stock traded hands, compared to its average volume of 821,694. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $197.78. The company's 50-day moving average is $109.64 and its two-hundred day moving average is $117.05. The company has a market capitalization of $6.34 billion, a P/E ratio of 25.27 and a beta of 0.52.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total value of $103,429.95. Following the sale, the senior vice president directly owned 17,679 shares of the company's stock, valued at $2,033,968.95. This represents a 4.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PCTY. Zacks Research raised shares of Paylocity from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 20th. KeyCorp reduced their price target on shares of Paylocity from $190.00 to $172.00 and set an "overweight" rating on the stock in a report on Tuesday, April 28th. BMO Capital Markets boosted their price target on shares of Paylocity from $135.00 to $143.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. UBS Group increased their price objective on shares of Paylocity from $114.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Finally, Citizens Jmp reduced their target price on Paylocity from $170.00 to $150.00 and set a "market outperform" rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Paylocity presently has an average rating of "Moderate Buy" and a consensus price target of $156.61.

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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