Zions Bancorporation N.A. Raises Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Zions Bancorporation N.A. lifted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 30.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,096 shares of the software maker's stock after acquiring an additional 3,071 shares during the quarter. Zions Bancorporation N.A.'s holdings in Paylocity were worth $2,612,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PCTY. SBI Securities Co. Ltd. bought a new position in Paylocity during the fourth quarter worth about $29,000. UMB Bank n.a. boosted its holdings in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after buying an additional 72 shares during the period. Quarry LP grew its stake in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after buying an additional 185 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after acquiring an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 23,243 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the transaction, the director now owns 470,452 shares in the company, valued at $89,856,332. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 52,095 shares of company stock worth $10,076,554 over the last quarter. 21.91% of the stock is owned by corporate insiders.

Remove Ads

Paylocity Trading Down 2.5 %

Paylocity stock traded down $4.80 during trading hours on Friday, reaching $186.33. The stock had a trading volume of 318,935 shares, compared to its average volume of 476,165. The company has a fifty day simple moving average of $201.20 and a 200-day simple moving average of $192.49. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a market cap of $10.41 billion, a PE ratio of 47.78, a PEG ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (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%. Analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Mizuho upgraded Paylocity from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $200.00 to $235.00 in a research note on Friday, January 31st. TD Cowen reduced their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Monday, January 6th. KeyCorp increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. UBS Group increased their target price on Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Needham & Company LLC lifted their price target on Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $233.25.

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.