Swiss National Bank Has $32.72 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Posted by on May 12th, 2023

Swiss National Bank raised its stake in Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) by 84.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,450 shares of the software maker’s stock after purchasing an additional 76,900 shares during the quarter. Swiss National Bank owned 0.30% of Paylocity worth $32,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PCTY. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paylocity in the fourth quarter valued at about $38,000. Allspring Global Investments Holdings LLC lifted its position in shares of Paylocity by 9,150.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 185 shares of the software maker’s stock valued at $44,000 after buying an additional 183 shares during the last quarter. Covestor Ltd boosted its position in Paylocity by 88.1% during the first quarter. Covestor Ltd now owns 331 shares of the software maker’s stock worth $68,000 after purchasing an additional 155 shares during the period. Bessemer Group Inc. grew its stake in Paylocity by 85.2% in the 3rd quarter. Bessemer Group Inc. now owns 313 shares of the software maker’s stock valued at $76,000 after buying an additional 144 shares in the last quarter. Finally, CWM LLC raised its holdings in Paylocity by 16.1% during the 3rd quarter. CWM LLC now owns 497 shares of the software maker’s stock valued at $120,000 after acquiring an additional 69 shares during the period. Institutional investors own 72.79% of the company’s stock.

Analyst Ratings Changes

PCTY has been the topic of a number of analyst reports. Robert W. Baird decreased their price objective on Paylocity from $311.00 to $280.00 in a research note on Friday, May 5th. Cowen boosted their price objective on shares of Paylocity from $231.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Truist Financial reduced their price target on shares of Paylocity from $285.00 to $250.00 in a research report on Friday, May 5th. Piper Sandler decreased their target price on Paylocity from $297.00 to $245.00 in a research note on Friday, May 5th. Finally, Mizuho cut their price objective on Paylocity from $230.00 to $200.00 in a report on Friday, May 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.33.

Insider Activity at Paylocity

In related news, CAO Nicholas Rost sold 284 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $172.13, for a total value of $48,884.92. Following the sale, the chief accounting officer now owns 4,017 shares in the company, valued at $691,446.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Nicholas Rost sold 284 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $172.13, for a total value of $48,884.92. Following the sale, the chief accounting officer now owns 4,017 shares in the company, valued at $691,446.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Glenn sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $214.95, for a total transaction of $268,687.50. Following the completion of the sale, the chief financial officer now owns 23,288 shares in the company, valued at approximately $5,005,755.60. The disclosure for this sale can be found here. Insiders sold 177,526 shares of company stock valued at $36,710,417 over the last 90 days. Corporate insiders own 26.50% of the company’s stock.

Paylocity Trading Down 2.0 %

Paylocity stock opened at $165.20 on Friday. The firm has a 50-day moving average of $186.56 and a 200-day moving average of $199.32. The firm has a market cap of $9.22 billion, a P/E ratio of 78.29 and a beta of 1.08. Paylocity Holding Co. has a 1-year low of $152.01 and a 1-year high of $276.88.

Paylocity (NASDAQ:PCTY – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The software maker reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.18. Paylocity had a net margin of 10.84% and a return on equity of 20.23%. The company had revenue of $339.86 million during the quarter, compared to the consensus estimate of $332.79 million. Research analysts forecast that Paylocity Holding Co. will post 2.02 earnings per share for the current fiscal year.

Paylocity Company Profile

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Paylocity Holding Corp. engages in the development and provision of cloud-based software solutions. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded by Steve I. Sarowitz in 1997 and is headquartered in Schaumburg, IL.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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