Handelsbanken Fonder AB Has $51.44 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Handelsbanken Fonder AB raised its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 27.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,051 shares of the software maker's stock after purchasing an additional 68,110 shares during the quarter. Handelsbanken Fonder AB owned 0.56% of Paylocity worth $51,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. raised its position in Paylocity by 3.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the software maker's stock valued at $462,000 after purchasing an additional 100 shares during the period. Avior Wealth Management LLC grew its stake in Paylocity by 2.4% during the 4th quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker's stock worth $531,000 after purchasing an additional 76 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Paylocity by 98.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,771 shares of the software maker's stock worth $2,600,000 after purchasing an additional 7,828 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Paylocity during the 4th quarter worth $1,995,000. Finally, WCM Investment Management LLC acquired a new position in Paylocity during the 4th quarter worth $499,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCTY. Citigroup boosted their target price on Paylocity from $180.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 31st. Needham & Company LLC reissued a "buy" rating and set a $200.00 target price on shares of Paylocity in a research note on Friday, February 9th. KeyCorp lowered their target price on Paylocity from $197.00 to $186.00 and set an "overweight" rating for the company in a research note on Friday, February 9th. Mizuho decreased their price target on Paylocity from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Friday, February 9th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $180.00 price target (down from $240.00) on shares of Paylocity in a report on Friday, January 5th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Paylocity presently has an average rating of "Moderate Buy" and an average price target of $205.13.

Paylocity Stock Up 1.5 %

PCTY traded up $2.33 on Monday, hitting $159.55. 541,859 shares of the company traded hands, compared to its average volume of 464,806. The company has a 50 day moving average of $168.70 and a 200-day moving average of $166.04. The stock has a market capitalization of $8.99 billion, a PE ratio of 53.11, a PEG ratio of 3.41 and a beta of 0.87. Paylocity Holding Co. has a 12-month low of $139.40 and a 12-month high of $230.52.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. The firm had revenue of $326.36 million during the quarter, compared to the consensus estimate of $324.34 million. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. On average, research analysts anticipate that Paylocity Holding Co. will post 3.48 EPS for the current year.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the business'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 transaction of $4,299,716.88. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the business'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 transaction of $4,299,716.88. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 7,760 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $166.95, for a total value of $1,295,532.00. Following the transaction, the chief executive officer now owns 1,746,468 shares in the company, valued at approximately $291,572,832.60. The disclosure for this sale can be found here. Insiders sold a total of 54,547 shares of company stock valued at $9,356,359 in the last ninety days. Insiders own 22.50% of the company's stock.

Paylocity Profile

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.