Skandinaviska Enskilda Banken AB publ Has $30.16 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Skandinaviska Enskilda Banken AB publ reduced its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 150,659 shares of the software maker’s stock after selling 1,018 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Paylocity were worth $30,156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCTY. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity in the fourth quarter valued at about $29,000. Prospera Private Wealth LLC bought a new position in Paylocity in the third quarter valued at approximately $39,000. UMB Bank n.a. increased its position in shares of Paylocity by 41.1% during 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 raised its stake in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after buying an additional 225 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 1,400 shares of Paylocity stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total value of $280,826.00. Following the transaction, the director now owns 8,338,430 shares in the company, valued at approximately $1,672,605,673.70. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 18,566 shares of company stock worth $3,755,321 over the last three months. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Down 1.8 %

Shares of NASDAQ PCTY opened at $183.21 on Friday. The stock has a market capitalization of $10.24 billion, a P/E ratio of 46.98, a PEG ratio of 4.49 and a beta of 0.94. The stock’s fifty day moving average is $202.21 and its 200 day moving average is $189.85. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last released its earnings results 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 net margin of 14.76% and a return on equity of 22.45%. Sell-side analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group upped their price target on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Raymond James reiterated an “outperform” rating and issued a $265.00 target price (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. JMP Securities boosted their price target on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Finally, TD Cowen dropped their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.