DNB Asset Management AS Has $1.01 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

DNB Asset Management AS boosted its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,683 shares of the software maker’s stock after buying an additional 148 shares during the period. DNB Asset Management AS’s holdings in Paylocity were worth $1,013,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Capital International Investors increased its stake in Paylocity by 119.0% in the fourth quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock valued at $199,637,000 after purchasing an additional 658,057 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Paylocity by 35.0% during the first quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock worth $411,895,000 after acquiring an additional 621,946 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Paylocity during the fourth quarter worth $82,172,000. Clearbridge Investments LLC increased its position in shares of Paylocity by 2,212.5% during the fourth quarter. Clearbridge Investments LLC now owns 381,952 shares of the software maker’s stock worth $62,965,000 after acquiring an additional 365,435 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Paylocity by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after acquiring an additional 278,607 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PCTY shares. TD Cowen lowered their price objective on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. KeyCorp decreased their target price on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Citigroup decreased their target price on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. BTIG Research decreased their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Paylocity in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.13.

Paylocity Price Performance

PCTY stock traded up $1.37 during trading hours on Wednesday, reaching $153.46. The stock had a trading volume of 46,241 shares, compared to its average volume of 527,135. The stock has a market capitalization of $8.66 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 2.59 and a beta of 0.92. The stock has a 50-day simple moving average of $140.63 and a 200 day simple moving average of $156.89. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $206.55.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. The firm had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.40%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. On average, sell-side analysts forecast that Paylocity Holding Co. will post 4.14 EPS for the current fiscal year.

Insider Transactions at Paylocity

In other news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the completion of the sale, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at approximately $4,352,224.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,173 shares of company stock worth $7,296,388. 22.50% of the stock is owned by insiders.

Paylocity Company 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.