Swiss National Bank Sells 800 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Swiss National Bank cut its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,500 shares of the software maker’s stock after selling 800 shares during the quarter. Swiss National Bank owned approximately 0.16% of Paylocity worth $17,454,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Certuity LLC bought a new position in shares of Paylocity during the 4th quarter valued at approximately $232,000. Edgestream Partners L.P. lifted its holdings in Paylocity by 222.3% in the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after purchasing an additional 7,475 shares in the last quarter. Barclays PLC lifted its holdings in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after purchasing an additional 5,742 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after purchasing an additional 4,697 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Stock Performance

NASDAQ:PCTY opened at $189.96 on Wednesday. The stock’s fifty day moving average is $201.57 and its 200 day moving average is $190.83. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The firm has a market capitalization of $10.62 billion, a PE ratio of 48.71, a PEG ratio of 4.49 and a beta of 0.94. 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 released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, sell-side analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now owns 8,332,347 shares in the company, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 7,083 shares of company stock worth $1,420,041 over the last quarter. Company insiders own 21.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PCTY. TD Cowen lowered their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Needham & Company LLC upped their price objective on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $254.00 price objective (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, 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.