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

Union Bancaire Privee UBP SA bought a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,470 shares of the software maker’s stock, valued at approximately $2,689,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in Paylocity by 27.7% in the 4th quarter. Blue Trust Inc. now owns 839 shares of the software maker’s stock valued at $167,000 after buying an additional 182 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Paylocity by 53.6% in the 4th quarter. Fifth Third Bancorp now owns 4,632 shares of the software maker’s stock valued at $924,000 after buying an additional 1,617 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Paylocity by 91.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 36,315 shares of the software maker’s stock worth $7,244,000 after acquiring an additional 17,391 shares in the last quarter. Dakota Wealth Management acquired a new stake in Paylocity during the 4th quarter worth approximately $203,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after acquiring an additional 5,742 shares during the period. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PCTY. Barclays lifted their target price on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Truist Financial raised their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Paylocity in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.64.

Insider Activity at Paylocity

In other news, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This represents a 71.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Nicholas Rost sold 212 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the transaction, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,486 shares of company stock valued at $31,751,368 in the last 90 days. 21.91% of the stock is owned by corporate insiders.

Paylocity Trading Down 0.7 %

Shares of Paylocity stock opened at $205.03 on Tuesday. The firm’s 50 day moving average is $200.74 and its 200 day moving average is $177.28. The firm has a market capitalization of $11.43 billion, a PE ratio of 52.44, a price-to-earnings-growth ratio of 4.84 and a beta of 0.93. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68.

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.