Union Bancaire Privee UBP SA Has $817,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

Union Bancaire Privee UBP SA cut its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 68.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,273 shares of the software maker's stock after selling 9,197 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Paylocity were worth $817,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Paylocity during the 4th quarter valued at about $29,000. USA Financial Formulas acquired a new position in Paylocity during the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its stake in Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after buying an additional 225 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in Paylocity during the 4th quarter valued at about $72,000. 94.76% of the stock is currently owned by institutional investors.

Paylocity Trading Down 2.8%

Shares of Paylocity stock traded down $5.17 during trading on Friday, hitting $176.81. The stock had a trading volume of 819,778 shares, compared to its average volume of 454,705. The stock has a 50 day simple moving average of $190.15 and a 200 day simple moving average of $196.28. The company has a market capitalization of $9.77 billion, a PE ratio of 45.34, a P/E/G ratio of 4.49 and a beta of 0.53. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.34. The business had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. On average, research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on PCTY shares. Needham & Company LLC reissued a "buy" rating and set a $250.00 target price on shares of Paylocity in a research note on Friday, May 2nd. KeyCorp lowered their target price on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus lowered their target price on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. UBS Group lifted their price objective on shares of Paylocity from $195.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets lifted their price objective on shares of Paylocity from $210.00 to $226.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $223.00.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.91% of the stock is currently owned by insiders.

Paylocity Company Profile

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.