Zions Bancorporation N.A. Grows Position in Paylocity Holding Co. (NASDAQ:PCTY)

Zions Bancorporation N.A. grew its position in Paylocity Holding Co. (NASDAQ:PCTY) by 30.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Paylocity in the fourth quarter worth $29,000. UMB Bank n.a. increased its holdings 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 buying an additional 72 shares during the last quarter. Quarry LP raised its position in shares of 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 buying an additional 185 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 225 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position 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 acquiring an additional 63 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 3,083 shares of Paylocity stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $200.73, for a total value of $618,850.59. Following the transaction, the director now owns 8,335,347 shares in the company, valued at $1,673,154,203.31. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 28,926 shares of company stock worth $5,578,628. 21.91% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays raised their price target on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. KeyCorp raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Piper Sandler reiterated 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. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Price Performance

Shares of PCTY stock opened at $194.69 on Wednesday. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $201.60 and a two-hundred day simple moving average of $192.03. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 49.92, a P/E/G ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Paylocity 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.