Skandinaviska Enskilda Banken AB publ Sells 50,532 Shares of Paylocity Holding Corporation $PCTY

Skandinaviska Enskilda Banken AB publ decreased its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 25.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,983 shares of the software maker’s stock after selling 50,532 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Paylocity were worth $23,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Amiral Gestion raised its holdings in Paylocity by 37.6% in the 3rd quarter. Amiral Gestion now owns 84,703 shares of the software maker’s stock valued at $13,491,000 after buying an additional 23,162 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Paylocity during the 2nd quarter worth approximately $6,877,000. Prudential Financial Inc. increased its position in Paylocity by 342.1% in the 2nd quarter. Prudential Financial Inc. now owns 68,883 shares of the software maker’s stock valued at $12,481,000 after acquiring an additional 53,302 shares during the period. Sawgrass Asset Management LLC bought a new position in shares of Paylocity during the third quarter valued at $9,156,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Paylocity during the second quarter worth $2,283,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of recent research reports. Mizuho decreased their price objective on Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Stephens set a $160.00 price target on Paylocity in a research note on Friday, January 16th. BMO Capital Markets cut their price objective on Paylocity from $185.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Robert W. Baird set a $220.00 target price on Paylocity in a report on Friday, February 6th. Finally, Citizens Jmp decreased their target price on shares of Paylocity from $245.00 to $170.00 and set a “market outperform” rating for the company in a research report on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.05.

Paylocity Price Performance

Paylocity stock opened at $107.64 on Wednesday. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 3.12 and a beta of 0.54. Paylocity Holding Corporation has a 52-week low of $101.39 and a 52-week high of $218.16. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s 50 day moving average price is $139.97 and its two-hundred day moving average price is $152.64.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. The company had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. Paylocity’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.52 EPS. On average, equities analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.