Handelsbanken Fonder AB Buys 68,110 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Handelsbanken Fonder AB grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 27.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 312,051 shares of the software maker’s stock after purchasing an additional 68,110 shares during the period. Handelsbanken Fonder AB owned about 0.56% of Paylocity worth $51,442,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of Paylocity by 195.8% in the third quarter. Nordea Investment Management AB now owns 6,280 shares of the software maker’s stock valued at $1,156,000 after acquiring an additional 4,157 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Paylocity by 0.6% in the third quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock valued at $753,012,000 after acquiring an additional 25,562 shares in the last quarter. Walleye Capital LLC grew its holdings in shares of Paylocity by 132.0% in the third quarter. Walleye Capital LLC now owns 14,623 shares of the software maker’s stock valued at $2,657,000 after acquiring an additional 8,319 shares in the last quarter. Trust Point Inc. purchased a new position in Paylocity in the fourth quarter valued at approximately $1,023,000. Finally, Machina Capital S.A.S. purchased a new position in Paylocity in the third quarter valued at approximately $229,000. 94.76% of the stock is owned by institutional investors.

Paylocity Stock Down 0.2 %

PCTY opened at $157.22 on Monday. The stock has a market cap of $8.86 billion, a PE ratio of 53.11, a P/E/G ratio of 3.41 and a beta of 0.87. Paylocity Holding Co. has a 52 week low of $139.40 and a 52 week high of $230.52. The business’s fifty day simple moving average is $168.70 and its 200 day simple moving average is $166.04.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $326.36 million for the quarter, compared to analysts’ expectations of $324.34 million. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. As a group, equities analysts anticipate that Paylocity Holding Co. will post 3.48 earnings per share for the current year.

Insider Activity at Paylocity

In other news, Director Steven I. Sarowitz sold 24,504 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the transaction, the director now directly owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Steven I. Sarowitz sold 24,504 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the sale, the director now directly owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the sale, the director now owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The disclosure for this sale can be found here. Insiders have sold a total of 54,547 shares of company stock valued at $9,356,359 over the last 90 days. 22.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PCTY shares. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a research note on Friday, February 9th. BTIG Research started coverage on Paylocity in a research note on Tuesday, February 6th. They issued a “buy” rating and a $200.00 price objective on the stock. Piper Sandler upped their price objective on Paylocity from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, January 22nd. Finally, Truist Financial dropped their target price on Paylocity from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.13.

About Paylocity

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.