Handelsbanken Fonder AB Sells 1,200 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Handelsbanken Fonder AB cut its position in Paylocity Holding Co. (NASDAQ:PCTY) by 9.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,351 shares of the software maker’s stock after selling 1,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Paylocity were worth $2,264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCTY. JPMorgan Chase & Co. raised its position in shares of Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after buying an additional 385,625 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Paylocity by 283.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after buying an additional 229,057 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Paylocity by 297.6% in the 3rd quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock valued at $19,724,000 after buying an additional 89,487 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Paylocity by 113.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock valued at $15,904,000 after buying an additional 51,276 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Paylocity by 1,896.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 47,966 shares of the software maker’s stock valued at $7,913,000 after buying an additional 45,564 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Up 1.1 %

PCTY opened at $207.11 on Tuesday. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 4.49 and a beta of 0.95. The company’s 50 day moving average price is $202.91 and its two-hundred day moving average price is $186.43.

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

Insider Activity

In other news, Director Steven I. Sarowitz sold 13,689 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $203.29, for a total value of $2,782,836.81. Following the sale, the director now directly owns 8,385,954 shares of the company’s stock, valued at approximately $1,704,780,588.66. This represents a 0.16 % decrease in their position. 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 on Monday, December 2nd. The shares were sold at an average price of $205.40, for a total transaction of $534,040.00. Following the completion of the sale, the chief financial officer now directly owns 48,150 shares in the company, valued at approximately $9,890,010. This represents a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,486 shares of company stock valued at $16,875,663. 21.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCTY shares. UBS Group boosted their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $254.00 price objective (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Needham & Company LLC upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Raymond James reiterated an “outperform” rating and set a $265.00 price objective (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Finally, KeyCorp upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity 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.