Handelsbanken Fonder AB Boosts Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Handelsbanken Fonder AB raised its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 24.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,551 shares of the software maker’s stock after buying an additional 2,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Paylocity were worth $2,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCTY. Sei Investments Co. grew its holdings in Paylocity by 25.2% in the 4th quarter. Sei Investments Co. now owns 192,028 shares of the software maker’s stock valued at $31,654,000 after buying an additional 38,613 shares during the period. Icon Wealth Advisors LLC purchased a new stake in Paylocity in the 4th quarter valued at about $549,000. Granahan Investment Management LLC grew its holdings in Paylocity by 53.3% in the 4th quarter. Granahan Investment Management LLC now owns 353,298 shares of the software maker’s stock valued at $58,241,000 after buying an additional 122,894 shares during the period. Gillson Capital LP grew its holdings in Paylocity by 43.1% in the 4th quarter. Gillson Capital LP now owns 42,499 shares of the software maker’s stock valued at $7,006,000 after buying an additional 12,793 shares during the period. Finally, Owls Nest Partners IA LLC acquired a new position in shares of Paylocity in the 4th quarter valued at about $29,038,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the sale, the chief executive officer now directly owns 1,745,022 shares in the company, valued at $248,979,738.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the sale, the chief executive officer now directly owns 1,745,022 shares in the company, valued at $248,979,738.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Glenn sold 1,400 shares of Paylocity stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the sale, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,632 shares of company stock worth $7,379,399 in the last three months. 22.50% of the stock is owned by insiders.

Paylocity Stock Performance

Paylocity stock opened at $163.41 on Thursday. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $206.28. The stock’s 50 day moving average price is $158.77 and its 200 day moving average price is $154.44. The firm has a market capitalization of $9.22 billion, a PE ratio of 47.50, a price-to-earnings-growth ratio of 4.05 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.19. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The company had revenue of $357.30 million for the quarter, compared to the consensus estimate of $350.29 million. During the same period in the previous year, the business earned $0.76 EPS. Paylocity’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts forecast that Paylocity Holding Co. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BTIG Research reduced their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Truist Financial reduced their price objective on Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Citigroup reduced their price objective on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Jefferies Financial Group reduced their price objective on Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, KeyCorp lifted their price objective on Paylocity from $171.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.87.

About Paylocity

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.