Union Bancaire Privee UBP SA Acquires Shares of 13,470 Paylocity Holding Co. (NASDAQ:PCTY)

Union Bancaire Privee UBP SA acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 13,470 shares of the software maker’s stock, valued at approximately $2,689,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning acquired a new stake in shares of Paylocity during the 3rd quarter worth approximately $267,000. Blue Trust Inc. grew its position in shares of Paylocity by 1,832.4% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the software maker’s stock worth $108,000 after buying an additional 623 shares during the period. Signaturefd LLC grew its position in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the period. International Assets Investment Management LLC grew its position in shares of Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after buying an additional 7,707 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Paylocity by 1,896.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 47,966 shares of the software maker’s stock worth $7,913,000 after buying an additional 45,564 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. JMP Securities lifted their price target on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. KeyCorp lifted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, UBS Group boosted their target price on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Trading Down 0.8 %

Shares of Paylocity stock opened at $204.82 on Monday. The firm has a 50-day moving average of $202.82 and a 200-day moving average of $186.08. The stock has a market cap of $11.45 billion, a PE ratio of 52.52, a PEG ratio of 4.49 and a beta of 0.95. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. As a group, sell-side analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Activity

In related news, Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the completion of the sale, the director now owns 9,214,115 shares of the company’s stock, valued at $1,935,885,561.50. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ryan Glenn sold 2,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the sale, the chief financial officer now directly owns 48,150 shares of the company’s stock, valued at $9,890,010. This represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,486 shares of company stock valued at $16,875,663. 21.91% of the stock is owned by company insiders.

About Paylocity

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.