Livforsakringsbolaget Skandia Omsesidigt Invests $2.21 Million in Paylocity Holding Co. (NASDAQ:PCTY)

Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, HoldingsChannel reports. The fund purchased 11,100 shares of the software maker’s stock, valued at approximately $2,213,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCTY. CIBC Asset Management Inc raised its position in Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after acquiring an additional 58 shares during the period. UMB Bank n.a. grew its position in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Paylocity by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after acquiring an additional 82 shares during the last quarter. Covestor Ltd raised its stake in Paylocity by 6.4% during the third quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after purchasing an additional 83 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 946 shares of Paylocity stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $204.74, for a total transaction of $193,684.04. Following the sale, the director now directly owns 1,767 shares in the company, valued at $361,775.58. The trade was a 34.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the sale, the senior vice president now owns 14,634 shares in the company, valued at $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,380 shares of company stock worth $25,830,669. 21.91% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on PCTY shares. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and increased their price objective for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Jefferies Financial Group lifted their price target on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. KeyCorp increased their price objective on shares of Paylocity from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets lifted their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average price target of $213.86.

Paylocity Stock Up 1.4 %

Shares of NASDAQ:PCTY opened at $212.01 on Friday. The stock’s 50-day moving average price is $201.28 and its two-hundred day moving average price is $180.54. 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 12-month low of $129.94 and a 12-month high of $215.68. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 54.22, a PEG ratio of 5.03 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.92% and a net margin of 15.32%. On average, research analysts forecast that Paylocity Holding Co. will post 4.46 EPS for the current year.

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.