Teacher Retirement System of Texas grew its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,678 shares of the software maker's stock after acquiring an additional 4,525 shares during the period. Teacher Retirement System of Texas' holdings in Paylocity were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Paylocity in the 4th quarter worth approximately $29,000. UMB Bank n.a. lifted its stake in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after acquiring an additional 72 shares during the period. Quarry LP increased its position in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after purchasing an additional 185 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after purchasing an additional 63 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. UBS Group upped their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Barclays lifted their price objective on Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Mizuho upgraded Paylocity from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Finally, KeyCorp upped their price target on Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $233.25.
View Our Latest Analysis on PCTY
Paylocity Stock Down 2.5 %
Shares of PCTY stock traded down $4.80 during trading hours on Friday, hitting $186.33. 318,935 shares of the company were exchanged, compared to its average volume of 476,165. The company has a market capitalization of $10.41 billion, a PE ratio of 47.78, a PEG ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The business has a 50 day moving average of $201.20 and a two-hundred day moving average of $192.49. 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 released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (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%. Analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.
Insider Buying and Selling at Paylocity
In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 52,095 shares of company stock worth $10,076,554. Corporate insiders own 21.91% of the company's stock.
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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