Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. raised its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 30.6% during the 4th quarter, Holdings Channel reports. The firm owned 13,096 shares of the software maker’s stock after buying 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 SEC.

A number of other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Paylocity during the fourth quarter valued at approximately $29,000. UMB Bank n.a. increased its holdings 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 valued at $49,000 after purchasing an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 225 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after buying an additional 63 shares in the last quarter. Finally, Quarry LP grew its position in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PCTY. UBS Group raised their price objective on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Needham & Company LLC increased their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. JMP Securities boosted their target price on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and raised their target price for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 23,243 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the sale, the director now owns 470,452 shares of the company’s stock, valued at approximately $89,856,332. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 28,926 shares of company stock worth $5,578,628 over the last ninety days. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Paylocity stock opened at $194.69 on Wednesday. The firm has a 50 day simple moving average of $201.60 and a 200-day simple moving average of $192.03. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 49.92, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect that Paylocity Holding Co. will post 4.36 EPS for the current year.

Paylocity Company 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.