California Public Employees Retirement System decreased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,819 shares of the software maker's stock after selling 3,930 shares during the quarter. California Public Employees Retirement System owned about 0.13% of Paylocity worth $14,725,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake in Paylocity by 19.3% during the 3rd quarter. FMR LLC now owns 272,764 shares of the software maker's stock valued at $44,998,000 after purchasing an additional 44,118 shares during the period. HighTower Advisors LLC boosted its position in shares of Paylocity by 25.6% during the third quarter. HighTower Advisors LLC now owns 4,592 shares of the software maker's stock worth $751,000 after buying an additional 936 shares during the period. Quarry LP grew its holdings in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after buying an additional 185 shares in the last quarter. Quantinno Capital Management LP increased its position in Paylocity by 62.2% in the 3rd quarter. Quantinno Capital Management LP now owns 29,557 shares of the software maker's stock valued at $4,876,000 after acquiring an additional 11,340 shares during the period. Finally, Stifel Financial Corp raised its stake in Paylocity by 0.6% during the 3rd quarter. Stifel Financial Corp now owns 23,412 shares of the software maker's stock valued at $3,862,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
Insider Activity at Paylocity
In other news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the transaction, the director now owns 420,000 shares in the company, valued at $81,862,200. This represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.91% of the stock is owned by insiders.
Paylocity Trading Up 8.8 %
PCTY stock traded up $15.20 during mid-day trading on Wednesday, reaching $187.74. 492,516 shares of the stock traded hands, compared to its average volume of 480,014. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The stock's fifty day moving average is $197.06 and its 200-day moving average is $193.78. The company has a market cap of $10.49 billion, a P/E ratio of 48.14, a P/E/G ratio of 4.49 and a beta of 0.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, sell-side analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current year.
Analyst Ratings Changes
Several research firms have recently issued reports on PCTY. Raymond James reissued an "outperform" rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Stifel Nicolaus increased their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Barclays boosted their price target on shares of Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. TD Cowen decreased their price objective on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, UBS Group boosted their target price on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $233.25.
Read Our Latest Stock Analysis on Paylocity
About Paylocity
(
Free Report)
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.
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