Swedbank AB Takes Position in Paylocity Holding Co. (NASDAQ:PCTY)

Swedbank AB purchased a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 150,400 shares of the software maker’s stock, valued at approximately $25,848,000. Swedbank AB owned 0.27% of Paylocity as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Paylocity by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after buying an additional 278,607 shares during the period. Vanguard Group Inc. increased its position in shares of Paylocity by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,158,224 shares of the software maker’s stock valued at $685,483,000 after buying an additional 13,962 shares during the period. Wasatch Advisors LP increased its position in shares of Paylocity by 35.0% during the first quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock valued at $411,895,000 after buying an additional 621,946 shares during the period. Capital International Investors increased its position in shares of Paylocity by 119.0% in the fourth quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock worth $199,637,000 after purchasing an additional 658,057 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Paylocity in the fourth quarter worth approximately $82,172,000. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 331 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the transaction, the chief accounting officer now owns 4,751 shares in the company, valued at $659,106.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now directly owns 1,745,022 shares in the company, valued at $248,979,738.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $138.73, for a total value of $45,919.63. Following the transaction, the chief accounting officer now owns 4,751 shares of the company’s stock, valued at $659,106.23. The disclosure for this sale can be found here. Insiders sold 51,173 shares of company stock valued at $7,296,388 over the last quarter. 22.50% of the stock is owned by company insiders.

Paylocity Stock Up 6.7 %

Shares of PCTY stock opened at $158.09 on Friday. The stock has a fifty day moving average of $140.64 and a 200 day moving average of $156.84. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $217.13. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.59 and a beta of 0.92.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. Paylocity had a return on equity of 22.40% and a net margin of 14.74%. The company had revenue of $401.28 million during the quarter, compared to analyst estimates of $396.93 million. Equities research analysts anticipate that Paylocity Holding Co. will post 4.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial decreased their price objective on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a research report on Friday. Robert W. Baird decreased their price objective on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. Stifel Nicolaus decreased their price objective on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Piper Sandler cut their target price on Paylocity from $194.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.41.

Paylocity Company Profile

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.