Pictet Asset Management Holding SA Sells 190,692 Shares of Paylocity Holding Corporation $PCTY

Pictet Asset Management Holding SA lowered its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 96.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 7,458 shares of the software maker’s stock after selling 190,692 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Paylocity were worth $806,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new stake in shares of Paylocity during the 3rd quarter valued at about $104,657,000. Norges Bank bought a new position in Paylocity in the fourth quarter worth about $88,428,000. Morgan Stanley lifted its holdings in Paylocity by 117.9% in the fourth quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after buying an additional 442,218 shares during the period. AQR Capital Management LLC lifted its holdings in Paylocity by 75.1% in the fourth quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock worth $143,747,000 after buying an additional 404,605 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Paylocity by 261.2% during the 4th quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock valued at $81,509,000 after acquiring an additional 386,494 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCTY has been the topic of a number of research analyst reports. Raymond James Financial set a $140.00 target price on Paylocity in a report on Friday, May 8th. Zacks Research upgraded Paylocity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. Citizens Jmp dropped their price target on Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Friday, May 8th. UBS Group upped their price target on Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Stephens decreased their price objective on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.61.

Paylocity Trading Down 3.1%

NASDAQ:PCTY opened at $115.21 on Thursday. The company’s 50 day moving average price is $109.15 and its 200-day moving average price is $117.30. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $197.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 24.57 and a beta of 0.52.

Insider Transactions at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the sale, the senior vice president directly owned 17,679 shares in the company, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.40% of the company’s stock.

Paylocity Profile

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.