Union Bancaire Privee UBP SA Acquires New Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Union Bancaire Privee UBP SA purchased 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. The institutional investor purchased 13,470 shares of the software maker's stock, valued at approximately $2,689,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock worth $29,000 after purchasing an additional 165 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity during the 3rd quarter valued at $39,000. Signaturefd LLC increased its stake in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after acquiring an additional 167 shares during the last quarter. Quarry LP lifted its stake in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after buying an additional 185 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after purchasing an additional 116 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PCTY shares. Barclays increased their price target on shares of Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Citigroup upgraded shares of Paylocity from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Jefferies Financial Group increased their price target on shares of Paylocity from $215.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, December 9th. BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, KeyCorp raised their price target on Paylocity from $210.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $213.86.

Insider Buying and Selling at Paylocity

In other news, CAO Nicholas Rost sold 212 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares of the company's stock, valued at $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the sale, the director now directly owns 11,755 shares in the company, valued at $2,310,445.25. This trade represents a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,486 shares of company stock valued at $31,751,368. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Stock Up 1.9 %

NASDAQ:PCTY traded up $3.80 on Friday, hitting $205.26. The stock had a trading volume of 431,589 shares, compared to its average volume of 487,173. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $11.44 billion, a PE ratio of 52.50, a P/E/G ratio of 4.98 and a beta of 0.93. The business's fifty day moving average is $201.39 and its 200 day moving average is $178.43. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68.

About Paylocity

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.