Pictet Asset Management SA Cuts Position in Paylocity Holding Co. (NASDAQ:PCTY)

Pictet Asset Management SA lessened its holdings in Paylocity Holding Co. (NASDAQ:PCTYGet Rating) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,358 shares of the software maker’s stock after selling 258 shares during the period. Pictet Asset Management SA’s holdings in Paylocity were worth $411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of Paylocity by 7.0% in the 1st quarter. Russell Investments Group Ltd. now owns 41,540 shares of the software maker’s stock worth $8,546,000 after buying an additional 2,721 shares during the last quarter. M&T Bank Corp lifted its stake in Paylocity by 7.9% in the first quarter. M&T Bank Corp now owns 1,042 shares of the software maker’s stock valued at $214,000 after purchasing an additional 76 shares during the last quarter. Moody National Bank Trust Division purchased a new position in Paylocity in the second quarter valued at approximately $410,000. DekaBank Deutsche Girozentrale lifted its stake in Paylocity by 4.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 12,800 shares of the software maker’s stock valued at $2,248,000 after purchasing an additional 500 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Paylocity by 6.1% in the first quarter. Teacher Retirement System of Texas now owns 7,842 shares of the software maker’s stock valued at $1,614,000 after purchasing an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 72.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCTY. Robert W. Baird upped their price objective on Paylocity from $274.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Credit Suisse Group increased their target price on Paylocity to $240.00 in a research report on Tuesday, August 9th. Cowen increased their target price on Paylocity from $240.00 to $265.00 in a research report on Friday, August 5th. Cowen increased their target price on Paylocity from $240.00 to $265.00 in a research report on Friday, August 5th. Finally, Citigroup dropped their target price on Paylocity from $294.00 to $255.00 in a research report on Friday, October 21st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Paylocity Stock Performance

Paylocity stock opened at $215.01 on Thursday. The stock has a market cap of $11.97 billion, a P/E ratio of 134.38 and a beta of 1.08. Paylocity Holding Co. has a fifty-two week low of $152.01 and a fifty-two week high of $276.88. The firm’s fifty day moving average price is $228.03 and its 200-day moving average price is $211.46.

Insider Transactions at Paylocity

In related news, Director Ronald V. Waters sold 3,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $247.09, for a total value of $741,270.00. Following the transaction, the director now owns 9,613 shares of the company’s stock, valued at $2,375,276.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 26.50% of the company’s stock.

Paylocity Company Profile

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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.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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