Swedbank AB Trims Holdings in Paylocity Holding Corporation $PCTY

Swedbank AB trimmed its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 45.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,400 shares of the software maker’s stock after selling 51,000 shares during the quarter. Swedbank AB’s holdings in Paylocity were worth $6,526,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PCTY. Flagship Harbor Advisors LLC bought a new position in shares of Paylocity in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Paylocity by 363.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Paylocity in the 4th quarter valued at about $30,000. Advisory Services Network LLC bought a new position in Paylocity in the 3rd quarter worth about $38,000. Finally, Parallel Advisors LLC grew its stake in Paylocity by 446.2% in the 4th quarter. Parallel Advisors LLC now owns 284 shares of the software maker’s stock worth $43,000 after acquiring an additional 232 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCTY. TD Cowen decreased their price target on shares of Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, June 26th. UBS Group increased their price objective on Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Raymond James Financial set a $140.00 target price on Paylocity in a research report on Friday, May 8th. Barclays upped their target price on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Zacks Research upgraded Paylocity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $156.61.

Paylocity Stock Up 1.6%

NASDAQ:PCTY traded up $1.88 during trading hours on Friday, reaching $118.50. The company’s stock had a trading volume of 579,034 shares, compared to its average volume of 821,694. The stock has a 50 day moving average price of $109.64 and a two-hundred day moving average price of $117.05. 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 company has a market capitalization of $6.34 billion, a P/E ratio of 25.27 and a beta of 0.52. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $197.78.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the completion of the transaction, the senior vice president directly owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Company Profile

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.