Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 37.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,515 shares of the software maker’s stock after selling 9,849 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Paylocity were worth $2,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PCTY. WCM Investment Management LLC increased its holdings in shares of Paylocity by 2.3% during the 1st quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock valued at $525,000 after purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC increased its holdings in Paylocity by 34.7% in the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after buying an additional 78 shares in the last quarter. Securian Asset Management Inc. raised its position in shares of Paylocity by 2.8% in the fourth quarter. Securian Asset Management Inc. now owns 3,655 shares of the software maker’s stock worth $603,000 after acquiring an additional 100 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Paylocity by 3.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock worth $498,000 after acquiring an additional 100 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Paylocity by 80.0% during the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after acquiring an additional 108 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the sale, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $140.06, for a total value of $196,084.00. Following the transaction, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at approximately $4,352,224.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the sale, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The disclosure for this sale can be found here. 22.50% of the stock is currently owned by corporate insiders.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $163.37 on Friday. The stock’s 50-day moving average is $153.69 and its two-hundred day moving average is $154.89. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $206.28.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The firm had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. Equities research analysts anticipate that Paylocity Holding Co. will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCTY has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group dropped their price target on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Stifel Nicolaus reduced their price objective on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. KeyCorp dropped their target price on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Finally, TD Cowen decreased their price target on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.13.

Paylocity Company Profile

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.