KLP Kapitalforvaltning AS Buys New Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

KLP Kapitalforvaltning AS purchased a new position in Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,000 shares of the software maker’s stock, valued at approximately $1,795,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Paylocity by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock valued at $1,916,000 after purchasing an additional 49 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Paylocity by 29.9% in the fourth 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 in the last quarter. UMB Bank n.a. grew its holdings in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after buying an additional 72 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Paylocity by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock worth $630,000 after acquiring an additional 77 shares in the last quarter. Finally, Gallacher Capital Management LLC raised its holdings in shares of Paylocity by 4.6% in the 4th quarter. Gallacher Capital Management LLC now owns 1,989 shares of the software maker’s stock worth $397,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of recent research reports. UBS Group boosted their price objective on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and upped their price target for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Finally, Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and raised their price target for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the sale, the director now owns 470,452 shares of the company’s stock, valued at $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 52,095 shares of company stock worth $10,076,554. 21.91% of the stock is owned by corporate insiders.

Paylocity Stock Performance

Shares of PCTY opened at $191.13 on Friday. 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 cap of $10.68 billion, a PE ratio of 49.01, a PEG ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The stock’s fifty day moving average price is $201.41 and its two-hundred day moving average price is $192.04.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data 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%. On average, equities research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

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.