New York State Teachers Retirement System Has $7.52 Million Stock Position in Paylocity Holding Corporation (NASDAQ:PCTY)

New York State Teachers Retirement System boosted its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 7.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 40,154 shares of the software maker’s stock after purchasing an additional 2,724 shares during the period. New York State Teachers Retirement System owned about 0.07% of Paylocity worth $7,522,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Paylocity by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock valued at $803,745,000 after purchasing an additional 46,183 shares during the last quarter. Invesco Ltd. lifted its stake in Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker’s stock valued at $265,737,000 after purchasing an additional 320,319 shares during the last quarter. Geode Capital Management LLC lifted its stake in Paylocity by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock valued at $214,275,000 after purchasing an additional 25,182 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Paylocity by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock valued at $172,300,000 after purchasing an additional 7,251 shares during the last quarter. Finally, FMR LLC lifted its stake in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker’s stock valued at $129,775,000 after purchasing an additional 377,835 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCTY. Mizuho cut their target price on shares of Paylocity from $245.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group cut their price objective on shares of Paylocity from $255.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Citigroup cut their price objective on shares of Paylocity from $246.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Stifel Nicolaus cut their price objective on shares of Paylocity from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Raymond James Financial restated an “outperform” rating and set a $235.00 price objective (down from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.75.

Paylocity Stock Up 2.5%

Shares of PCTY opened at $184.61 on Friday. Paylocity Holding Corporation has a 12 month low of $130.51 and a 12 month high of $223.80. The firm’s 50 day moving average is $188.55 and its 200-day moving average is $193.56. The stock has a market capitalization of $10.20 billion, a PE ratio of 46.04, a P/E/G ratio of 3.60 and a beta of 0.50. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The company had revenue of $454.55 million for the quarter, compared to analysts’ expectations of $441.77 million. During the same period last year, the firm earned $2.21 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the transaction, the senior vice president directly owned 11,953 shares of the company’s stock, valued at $2,112,573.22. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.91% of the stock is owned by company insiders.

About Paylocity

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.