Skandinaviska Enskilda Banken AB publ Grows Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1,662.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,920 shares of the software maker’s stock after purchasing an additional 171,597 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.32% of Paylocity worth $23,986,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. WCM Investment Management LLC raised its stake in Paylocity by 2.3% in the first quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock valued at $525,000 after buying an additional 69 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Paylocity by 34.7% during the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after acquiring an additional 78 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Paylocity by 3.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock valued at $498,000 after purchasing an additional 100 shares during the last quarter. King Luther Capital Management Corp boosted its stake in Paylocity by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after purchasing an additional 103 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position in Paylocity by 80.0% during the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling at Paylocity

In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of Paylocity stock in a transaction on Monday, July 15th. The shares were sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the transaction, the chief financial officer now owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Ryan Glenn sold 1,400 shares of Paylocity stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $140.06, for a total value of $196,084.00. Following the sale, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The disclosure for this sale can be found here. 22.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PCTY has been the subject of several research reports. TD Cowen lowered their price objective on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Citigroup lowered their price target on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Truist Financial dropped their price target on Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Jefferies Financial Group reduced their price objective on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, Piper Sandler dropped their target price on Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and a consensus target price of $179.13.

Paylocity Price Performance

Shares of Paylocity stock opened at $162.58 on Friday. The firm has a fifty day moving average price of $154.14 and a 200 day moving average price of $154.83. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $206.28. The stock has a market cap of $9.03 billion, a PE ratio of 47.26, a price-to-earnings-growth ratio of 3.80 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The company had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $350.29 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts expect that Paylocity Holding Co. will post 4.51 EPS for the current year.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.