Zurcher Kantonalbank Zurich Cantonalbank Has $2.31 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 46.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,598 shares of the software maker's stock after buying an additional 3,677 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Paylocity were worth $2,313,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity during the fourth quarter valued at about $29,000. Prospera Private Wealth LLC acquired a new position in Paylocity in the third quarter worth about $39,000. UMB Bank n.a. raised its position in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares in the last quarter. Quarry LP raised its position in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after purchasing an additional 185 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Buying and Selling

In other Paylocity news, Director Steven I. Sarowitz sold 1,400 shares of Paylocity stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $200.59, for a total value of $280,826.00. Following the completion of the sale, the director now owns 8,338,430 shares in the company, valued at $1,672,605,673.70. The trade was a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 7,083 shares of company stock valued at $1,420,041. Company insiders own 21.91% of the company's stock.

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Paylocity Stock Down 0.1 %

Shares of NASDAQ:PCTY traded down $0.15 during midday trading on Thursday, reaching $190.75. 260,857 shares of the company were exchanged, compared to its average volume of 465,014. The firm has a market cap of $10.66 billion, a PE ratio of 48.91, a P/E/G 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 stock has a fifty day simple moving average of $201.50 and a two-hundred day simple moving average of $190.83. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY - Get Free Report) last released 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 net margin of 14.76% and a return on equity of 22.45%. As a group, sell-side analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent research reports. UBS Group increased their price target on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Needham & Company LLC increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Piper Sandler reissued an "overweight" rating and issued a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, JMP Securities upped their price objective on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $233.25.

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.