Swedbank AB Sells 39,000 Shares of Paylocity Holding Corporation $PCTY

Swedbank AB reduced its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 25.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,400 shares of the software maker’s stock after selling 39,000 shares during the period. Swedbank AB owned 0.20% of Paylocity worth $16,988,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after purchasing an additional 7,594 shares during the last quarter. Focus Partners Wealth boosted its holdings in Paylocity by 24.5% during the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after buying an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Paylocity by 537.0% during the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after buying an additional 392 shares during the last quarter. Marshall Wace LLP grew its position in shares of Paylocity by 2,782.7% during the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after buying an additional 34,450 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Paylocity by 10.0% during the 2nd quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after buying an additional 1,749 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the completion of the sale, the senior vice president directly owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. This represents a 4.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Paylocity Price Performance

NASDAQ PCTY opened at $113.02 on Tuesday. The business has a 50 day simple moving average of $106.44 and a 200 day simple moving average of $125.70. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 24.10 and a beta of 0.49.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PCTY. Citizens Jmp cut their price target on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Friday, May 8th. BTIG Research decreased their price objective on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 6th. Mizuho lowered their target price on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Wall Street Zen lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, Raymond James Financial set a $140.00 price target on shares of Paylocity in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $160.28.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.