Handelsbanken Fonder AB Sells 1,200 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Handelsbanken Fonder AB decreased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,351 shares of the software maker’s stock after selling 1,200 shares during the period. Handelsbanken Fonder AB’s holdings in Paylocity were worth $2,264,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. CIBC Asset Management Inc increased its position in shares of Paylocity by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after acquiring an additional 58 shares in the last quarter. UMB Bank n.a. increased its position in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after acquiring an additional 72 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Paylocity by 3.7% during the third 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 boosted its holdings in Paylocity by 6.4% during the third 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 boosted its holdings in Paylocity by 0.8% during the fourth 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 own 94.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the transaction, the director now directly owns 8,332,347 shares of the company’s stock, valued at approximately $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 82,486 shares of company stock valued at $16,875,663. 21.91% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on PCTY. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. UBS Group increased their target price on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Stifel Nicolaus increased their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. KeyCorp increased their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Raymond James restated an “outperform” rating and set a $265.00 target price (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Stock Performance

NASDAQ PCTY opened at $207.11 on Tuesday. The firm has a 50-day moving average of $202.91 and a 200-day moving average of $186.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $11.57 billion, a PE ratio of 53.11, a P/E/G 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.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (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%. On average, sell-side analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.

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.