KLP Kapitalforvaltning AS Buys New Stake in Paylocity Holding Co. (NASDAQ:PCTY)

KLP Kapitalforvaltning AS acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,000 shares of the software maker's stock, valued at approximately $1,795,000.

Several other large investors also recently added to or reduced their stakes in PCTY. Sei Investments Co. boosted its stake in Paylocity by 9.9% during the fourth quarter. Sei Investments Co. now owns 189,565 shares of the software maker's stock worth $37,814,000 after buying an additional 17,076 shares during the period. American Century Companies Inc. boosted its position in shares of Paylocity by 190.0% during the 4th quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock worth $69,774,000 after purchasing an additional 229,179 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Paylocity by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock valued at $1,916,000 after purchasing an additional 49 shares during the last quarter. Teacher Retirement System of Texas raised its position in Paylocity by 44.6% in the fourth quarter. Teacher Retirement System of Texas now owns 14,678 shares of the software maker's stock valued at $2,928,000 after purchasing an additional 4,525 shares during the period. Finally, Trillium Asset Management LLC lifted its stake in Paylocity by 194.7% during the fourth quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker's stock worth $19,888,000 after purchasing an additional 65,869 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the transaction, the director now directly owns 470,452 shares of the company's stock, valued at $89,856,332. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 21.91% of the stock is owned by company insiders.

Paylocity Price Performance

Shares of PCTY traded up $2.49 during trading hours on Tuesday, reaching $189.83. 268,123 shares of the company traded hands, compared to its average volume of 475,798. The stock has a market capitalization of $10.61 billion, a PE ratio of 48.67, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $200.85 and a 200 day simple moving average of $193.17.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted 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 net margin of 14.76% and a return on equity of 22.45%. As a group, research analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. TD Cowen lowered their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Raymond James reissued an "outperform" rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. KeyCorp boosted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Finally, Barclays increased their target price on shares of Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

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.