Swiss National Bank Has $23.17 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Swiss National Bank cut its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,550 shares of the software maker’s stock after selling 3,100 shares during the period. Swiss National Bank owned 0.25% of Paylocity worth $23,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Paylocity in the fourth quarter valued at approximately $36,000. RiverPark Advisors LLC bought a new stake in Paylocity in the 3rd quarter valued at $43,000. Signaturefd LLC lifted its holdings in Paylocity by 115.5% during the 3rd quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock valued at $91,000 after purchasing an additional 269 shares during the last quarter. Covestor Ltd boosted its position in Paylocity by 18.6% during the third quarter. Covestor Ltd now owns 836 shares of the software maker’s stock worth $152,000 after purchasing an additional 131 shares during the period. Finally, Y.D. More Investments Ltd acquired a new position in shares of Paylocity in the third quarter valued at $192,000. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BTIG Research started coverage on shares of Paylocity in a report on Tuesday, February 6th. They set a “buy” rating and a $200.00 target price for the company. Barclays increased their target price on Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Truist Financial reduced their price target on Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 9th. KeyCorp lifted their target price on Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Piper Sandler decreased their price target on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $196.67.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 24,504 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the completion of the transaction, the director now owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total value of $302,086.40. Following the completion of the transaction, the director now owns 14,704 shares of the company’s stock, valued at approximately $2,523,794.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the sale, the director now directly owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The disclosure for this sale can be found here. Insiders have sold a total of 54,547 shares of company stock worth $9,356,359 over the last 90 days. Insiders own 22.50% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $168.28 on Thursday. The company’s 50 day simple moving average is $165.31 and its 200 day simple moving average is $162.71. Paylocity Holding Co. has a 1 year low of $139.40 and a 1 year high of $230.52. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 48.92, a price-to-earnings-growth ratio of 3.63 and a beta of 0.88.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. As a group, analysts anticipate that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

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.