New York State Common Retirement Fund reduced its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,413 shares of the software maker's stock after selling 1,280 shares during the period. New York State Common Retirement Fund owned about 0.06% of Paylocity worth $6,465,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Creative Planning bought a new stake in shares of Paylocity during the third quarter valued at approximately $267,000. Signaturefd LLC boosted its holdings in Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock valued at $50,000 after acquiring an additional 167 shares during the last quarter. International Assets Investment Management LLC lifted its position in Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker's stock valued at $1,279,000 after purchasing an additional 7,707 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Paylocity by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 5,046 shares of the software maker's stock worth $832,000 after buying an additional 340 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker's stock valued at $395,000 after buying an additional 82 shares during the period. Institutional investors own 94.76% of the company's stock.
Wall Street Analyst Weigh In
PCTY has been the topic of a number of analyst reports. StockNews.com downgraded Paylocity from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Piper Sandler restated an "overweight" rating and set a $254.00 target price (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. TD Cowen cut their price target on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Mizuho raised shares of Paylocity from a "neutral" rating to an "outperform" rating and upped their target price for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Finally, Barclays lifted 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. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Paylocity has a consensus rating of "Moderate Buy" and an average target price of $233.25.
View Our Latest Analysis on Paylocity
Insider Buying and Selling
In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the transaction, the director now owns 8,332,347 shares in the company, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 69,349 shares of company stock valued at $14,121,177. 21.91% of the stock is owned by company insiders.
Paylocity Stock Performance
PCTY traded up $3.89 during trading hours on Friday, reaching $204.29. The company's stock had a trading volume of 518,954 shares, compared to its average volume of 494,512. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The firm has a market cap of $11.42 billion, a PE ratio of 52.38, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95. The company's 50-day moving average is $203.37 and its 200-day moving average is $187.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.
Paylocity Company Profile
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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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