Union Bancaire Privee UBP SA Acquires Shares of 13,470 Paylocity Holding Co. (NASDAQ:PCTY)

Union Bancaire Privee UBP SA acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,470 shares of the software maker’s stock, valued at approximately $2,689,000.

Several other large investors have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its stake in shares of Paylocity by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after purchasing an additional 58 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Paylocity by 3.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after purchasing an additional 82 shares during the last quarter. Covestor Ltd increased its stake in shares of Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock worth $227,000 after purchasing an additional 83 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Paylocity by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker’s stock worth $2,414,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCTY. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Truist Financial upped their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. KeyCorp upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Stifel Nicolaus upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Price Performance

NASDAQ:PCTY opened at $204.82 on Monday. The company has a 50-day moving average of $202.82 and a 200-day moving average of $186.08. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 52.52, a PEG ratio of 4.49 and a beta of 0.95. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 2,900 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $208.17, for a total transaction of $603,693.00. Following the completion of the sale, the director now owns 9,211,215 shares in the company, valued at $1,917,498,626.55. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ryan Glenn sold 2,600 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the sale, the chief financial officer now owns 48,150 shares of the company’s stock, valued at $9,890,010. This trade represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 82,486 shares of company stock valued at $16,875,663. Company insiders own 21.91% of the company’s stock.

Paylocity Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.