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

Union Bancaire Privee UBP SA purchased a new stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,470 shares of the software maker's stock, valued at approximately $2,689,000.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock worth $173,053,000 after acquiring an additional 36,590 shares during the last quarter. JPMorgan Chase & Co. raised its position in Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock worth $141,303,000 after acquiring an additional 385,625 shares during the last quarter. Janus Henderson Group PLC raised its position in Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker's stock worth $85,444,000 after acquiring an additional 17,560 shares during the last quarter. Point72 Asset Management L.P. raised its position in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker's stock worth $51,101,000 after acquiring an additional 229,057 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Paylocity by 3.2% during the third quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker's stock worth $47,389,000 after acquiring an additional 8,878 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PCTY shares. Needham & Company LLC lifted their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, February 7th. StockNews.com downgraded shares of Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. JMP Securities lifted their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. Truist Financial lifted their price target on shares of Paylocity from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Citigroup upgraded shares of Paylocity from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and an average price target of $233.25.

Paylocity Trading Down 2.1 %

PCTY traded down $4.26 during trading on Thursday, hitting $200.40. 338,496 shares of the company's stock were exchanged, compared to its average volume of 493,870. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The stock has a 50 day moving average price of $203.14 and a 200 day moving average price of $186.90. The firm has a market cap of $11.20 billion, a P/E ratio of 51.38, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results 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, analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Transactions at Paylocity

In related news, CFO Ryan Glenn sold 2,600 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $205.40, for a total value of $534,040.00. Following the sale, the chief financial officer now directly owns 48,150 shares of the company's stock, valued at $9,890,010. This represents a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven I. Sarowitz sold 6,900 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $209.02, for a total transaction of $1,442,238.00. Following the completion of the sale, the director now directly owns 8,933,409 shares in the company, valued at $1,867,261,149.18. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,249 shares of company stock valued at $14,724,870. Corporate insiders own 21.91% of the company's stock.

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.