579,853 Shares in Paylocity Holding Corporation $PCTY Acquired by Norges Bank

Norges Bank bought a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 579,853 shares of the software maker’s stock, valued at approximately $88,428,000. Norges Bank owned 1.07% of Paylocity as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of Paylocity during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Paylocity by 363.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Paylocity during the third quarter valued at approximately $38,000. Allworth Financial LP raised its stake in shares of Paylocity by 88.0% during the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock valued at $45,000 after purchasing an additional 132 shares during the period. Finally, Leonteq Securities AG purchased a new stake in shares of Paylocity during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

PCTY stock opened at $113.46 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.07 billion, a P/E ratio of 24.19 and a beta of 0.51. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $197.78. The stock’s 50 day simple moving average is $106.99 and its 200 day simple moving average is $123.86.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PCTY shares. Zacks Research upgraded shares of Paylocity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. Truist Financial dropped their price objective on shares of Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Citizens Jmp dropped their price objective on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. KeyCorp dropped their price objective on shares of Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group set a $135.00 price objective on shares of Paylocity in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.28.

Insider Activity

In related news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,033,968.95. This represents a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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.