Teachers Retirement System of The State of Kentucky Has $2.20 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Teachers Retirement System of The State of Kentucky lowered its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,359 shares of the software maker’s stock after selling 700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Paylocity were worth $2,203,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PCTY. American National Bank acquired a new stake in Paylocity in the fourth quarter worth about $31,000. GAMMA Investing LLC acquired a new stake in shares of Paylocity during the 4th quarter worth approximately $36,000. Principal Securities Inc. bought a new stake in shares of Paylocity during the fourth quarter worth approximately $41,000. V Square Quantitative Management LLC lifted its holdings in Paylocity by 84.9% in the fourth quarter. V Square Quantitative Management LLC now owns 466 shares of the software maker’s stock valued at $77,000 after buying an additional 214 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Paylocity during the 4th quarter worth $93,000. 94.76% of the stock is currently owned by institutional investors.

Insider Activity at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 331 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the sale, the chief accounting officer now owns 4,751 shares in the company, valued at $659,106.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. KeyCorp raised their price target on Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Citigroup dropped their price objective on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday. Robert W. Baird decreased their target price on Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Cowen decreased their price objective on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Piper Sandler dropped their target price on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $192.71.

Paylocity Stock Up 1.5 %

NASDAQ:PCTY opened at $135.86 on Friday. Paylocity Holding Co. has a twelve month low of $132.61 and a twelve month high of $230.52. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 39.49, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The stock’s 50 day moving average price is $154.58 and its two-hundred day moving average price is $161.15.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.29. The firm had revenue of $401.28 million for the quarter, compared to analyst estimates of $396.93 million. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. As a group, analysts anticipate that Paylocity Holding Co. will post 3.95 earnings per share for the current year.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.