Pictet Asset Management Holding SA Trims Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Pictet Asset Management Holding SA lowered its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 52.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 450,244 shares of the software maker’s stock after selling 500,756 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Paylocity were worth $89,810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PCTY. SBI Securities Co. Ltd. bought a new position in Paylocity during the 4th quarter valued at approximately $29,000. UMB Bank n.a. raised its position in shares of 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 purchasing an additional 72 shares during the last quarter. Quarry LP grew its position in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake 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 purchasing an additional 225 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings 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 buying an additional 63 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the sale, the director now directly owns 8,332,347 shares in the company, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 52,095 shares of company stock valued at $10,076,554 over the last 90 days. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Trading Down 2.5 %

NASDAQ:PCTY opened at $186.33 on Friday. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth 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. The business has a fifty day moving average price of $201.20 and a 200-day moving average price of $192.49. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Sell-side analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on PCTY. Jefferies Financial Group raised their price target on shares of Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. TD Cowen reduced their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $254.00 price target (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. JMP Securities lifted their price objective on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Finally, Needham & Company LLC upped their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.