Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,262 shares of the software maker’s stock after selling 2,942 shares during the period. California Public Employees Retirement System owned 0.13% of Paylocity worth $12,407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. RiverPark Advisors LLC bought a new position in shares of Paylocity during the third quarter worth about $43,000. CWM LLC grew its position in shares of Paylocity by 18.1% during the third quarter. CWM LLC now owns 412 shares of the software maker’s stock worth $75,000 after acquiring an additional 63 shares during the last quarter. Signaturefd LLC grew its position in shares of Paylocity by 115.5% during the third quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock worth $91,000 after acquiring an additional 269 shares during the last quarter. Covestor Ltd grew its position in shares of Paylocity by 18.6% during the third quarter. Covestor Ltd now owns 836 shares of the software maker’s stock worth $152,000 after acquiring an additional 131 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of Paylocity during the third quarter worth about $192,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the sale, the director now directly owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total value of $302,086.40. Following the completion of the sale, the director now directly owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 24,504 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the sale, the director now directly owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,547 shares of company stock valued at $9,356,359. 22.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PCTY has been the subject of several recent research reports. Jefferies Financial Group restated a “hold” rating and set a $180.00 price target (down previously from $240.00) on shares of Paylocity in a research report on Friday, January 5th. BTIG Research started coverage on shares of Paylocity in a research report on Tuesday, February 6th. They issued a “buy” rating and a $200.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 target price on shares of Paylocity in a research report on Friday, February 9th. Truist Financial decreased their target price on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Finally, KeyCorp decreased their target price on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.13.

Paylocity Trading Down 3.8 %

PCTY stock opened at $149.24 on Thursday. Paylocity Holding Co. has a one year low of $139.40 and a one year high of $230.52. The firm has a market capitalization of $8.41 billion, a PE ratio of 50.42, a P/E/G ratio of 3.42 and a beta of 0.87. The firm has a 50-day moving average of $165.87 and a two-hundred day moving average of $163.84.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The company had revenue of $326.36 million during the quarter, compared to analyst estimates of $324.34 million. On average, equities research analysts anticipate that Paylocity Holding Co. will post 3.48 earnings per share for the current year.

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.