Pictet Asset Management Holding SA Has $30.22 Million Stock Holdings in Paylocity Holding Corporation $PCTY

Pictet Asset Management Holding SA increased its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 32.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 198,150 shares of the software maker’s stock after acquiring an additional 48,380 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Paylocity were worth $30,218,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after purchasing an additional 7,594 shares during the last quarter. Focus Partners Wealth lifted its holdings in Paylocity by 24.5% during the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Paylocity by 537.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after purchasing an additional 392 shares during the last quarter. Marshall Wace LLP boosted its stake in Paylocity by 2,782.7% in the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock valued at $6,466,000 after purchasing an additional 34,450 shares during the period. Finally, Cerity Partners LLC grew its holdings in Paylocity by 10.0% in the 2nd quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock valued at $3,486,000 after buying an additional 1,749 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PCTY. Truist Financial lowered their price objective on Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Robert W. Baird set a $220.00 price target on shares of Paylocity in a research note on Friday, February 6th. Mizuho lowered their price target on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Citizens Jmp cut their price objective on shares of Paylocity from $245.00 to $170.00 and set a “market outperform” rating for the company in a report on Friday, February 6th. Finally, Stifel Nicolaus decreased their target price on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Fifteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $177.21.

Paylocity Stock Up 5.5%

Shares of NASDAQ PCTY opened at $107.94 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $201.97. The stock has a market capitalization of $5.82 billion, a P/E ratio of 25.40, a PEG ratio of 2.93 and a beta of 0.57. The stock’s fifty day moving average is $106.95 and its 200 day moving average is $130.23.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business had revenue of $416.13 million during the quarter, compared to analysts’ expectations of $408.37 million. During the same quarter in the prior year, the business posted $1.52 earnings per share. Paylocity’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts forecast that Paylocity Holding Corporation will post 5.31 earnings per share for the current fiscal 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.