KLP Kapitalforvaltning AS Makes New $1.80 Million Investment in Paylocity Holding Co. (NASDAQ:PCTY)

KLP Kapitalforvaltning AS bought a new stake in Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 9,000 shares of the software maker’s stock, valued at approximately $1,795,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Paylocity in the fourth quarter valued at approximately $29,000. UMB Bank n.a. boosted its holdings in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after buying an additional 63 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after buying an additional 185 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Down 1.5 %

Paylocity stock opened at $191.13 on Friday. The firm has a 50 day moving average price of $201.41 and a two-hundred day moving average price of $192.04. 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 Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. Equities analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Jefferies Financial Group upped their price objective on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. KeyCorp raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $254.00 price target (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Finally, TD Cowen cut their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Insider Activity

In other news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the sale, the director now owns 470,452 shares in the company, valued at $89,856,332. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 52,095 shares of company stock valued at $10,076,554 in the last ninety days. 21.91% of the stock is owned by company insiders.

Paylocity Company 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.