Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 46.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,598 shares of the software maker’s stock after acquiring an additional 3,677 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Paylocity were worth $2,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings 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 buying an additional 77 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of Paylocity during the fourth quarter worth about $829,000. Inceptionr LLC purchased a new position in shares of Paylocity during the fourth quarter worth about $289,000. Raymond James Financial Inc. purchased a new stake in Paylocity in the 4th quarter valued at approximately $6,818,000. Finally, Proficio Capital Partners LLC purchased a new stake in Paylocity in the 4th quarter valued at approximately $2,467,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity

In related news, Director Steven I. Sarowitz sold 11,473 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $203.37, for a total value of $2,333,264.01. Following the completion of the transaction, the director now directly owns 8,344,545 shares of the company’s stock, valued at $1,697,030,116.65. This represents a 0.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 18,566 shares of company stock valued at $3,755,321. 21.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PCTY has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. TD Cowen lowered their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Stifel Nicolaus lifted their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Stock Up 1.7 %

NASDAQ:PCTY opened at $186.24 on Monday. The firm has a market capitalization of $10.41 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The stock has a 50 day moving average of $201.95 and a 200-day moving average of $190.43. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS 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%. Analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Paylocity Company 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.