Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,430 shares of the software maker’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Paylocity worth $7,466,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after acquiring an additional 385,625 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after acquiring an additional 229,057 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Paylocity by 297.6% during the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock valued at $19,724,000 after acquiring an additional 89,487 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Paylocity by 113.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock valued at $15,904,000 after acquiring an additional 51,276 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Paylocity by 1,896.9% during the third quarter. Assenagon Asset Management S.A. now owns 47,966 shares of the software maker’s stock valued at $7,913,000 after acquiring an additional 45,564 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of Paylocity stock opened at $212.68 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $202.69 and its two-hundred day moving average price is $185.10. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a market cap of $11.89 billion, a PE ratio of 54.53, a price-to-earnings-growth ratio of 4.72 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data 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 return on equity of 22.45% and a net margin of 14.76%. As a group, sell-side analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 13,689 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $203.29, for a total transaction of $2,782,836.81. Following the sale, the director now owns 8,385,954 shares in the company, valued at approximately $1,704,780,588.66. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey T. Diehl sold 4,513 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $209.91, for a total value of $947,323.83. Following the sale, the director now owns 1,003 shares in the company, valued at approximately $210,539.73. The trade was a 81.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,305 shares of company stock worth $20,130,202. Company insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Finally, KeyCorp upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Profile

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.