SEB Asset Management AB Takes $2.06 Million Position in Paylocity Holding Corporation $PCTY

SEB Asset Management AB bought a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,104 shares of the software maker’s stock, valued at approximately $2,064,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PCTY. State of Michigan Retirement System boosted its holdings in shares of Paylocity by 1.0% during the first quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock worth $1,131,000 after acquiring an additional 100 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Paylocity by 3.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock worth $521,000 after purchasing an additional 106 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Paylocity by 35.0% during the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after purchasing an additional 111 shares during the period. Fisher Asset Management LLC increased its stake in shares of Paylocity by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock worth $1,126,000 after purchasing an additional 122 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Paylocity by 0.4% during the 4th quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker’s stock worth $4,535,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PCTY. TD Cowen decreased their price objective on Paylocity from $155.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Zacks Research raised Paylocity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Barclays boosted their target price on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Jefferies Financial Group set a $135.00 price target on shares of Paylocity in a research note on Saturday, May 9th. Finally, Truist Financial lowered their price target on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.88.

Paylocity Price Performance

Paylocity stock opened at $120.60 on Friday. The firm has a market cap of $6.46 billion, a PE ratio of 25.71 and a beta of 0.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s fifty day moving average price is $112.74 and its two-hundred day moving average price is $115.02. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $197.78.

Insider Activity

In related news, SVP Andrew Cappotelli sold 899 shares of the firm’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 transaction, the senior vice president owned 17,679 shares in the company, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.40% of the company’s stock.

Paylocity 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.