Edmond DE Rothschild Holding S.A. Reduces Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Edmond DE Rothschild Holding S.A. lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,915 shares of the software maker’s stock after selling 441 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Paylocity were worth $3,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Paylocity by 17.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,440 shares of the software maker’s stock worth $287,000 after acquiring an additional 215 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Paylocity by 128.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 75,501 shares of the software maker’s stock worth $15,060,000 after purchasing an additional 42,451 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Paylocity by 17.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,988 shares of the software maker’s stock worth $2,192,000 after purchasing an additional 1,609 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Paylocity during the fourth quarter valued at $1,919,000. Finally, Norges Bank purchased a new position in Paylocity during the fourth quarter valued at $12,131,000. 94.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the sale, the director now owns 420,000 shares of the company’s stock, valued at $81,862,200. This represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.91% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PCTY has been the subject of several research reports. JMP Securities lifted their price target on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. UBS Group lifted their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. KeyCorp raised their price objective on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $254.00 target price (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Stock Performance

Shares of PCTY stock opened at $187.34 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average price of $201.00 and a 200-day moving average price of $192.96. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The firm has a market capitalization of $10.47 billion, a PE ratio of 48.04, a P/E/G ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last posted its earnings results 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 22.45% and a net margin of 14.76%. As a group, equities research analysts expect that Paylocity Holding Co. will post 4.36 earnings per share 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.