Louisiana State Employees Retirement System Buys New Shares in Paylocity Holding Co. (NASDAQ:PCTY)

Louisiana State Employees Retirement System bought a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,100 shares of the software maker’s stock, valued at approximately $1,995,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PCTY. RiverPark Advisors LLC acquired a new stake in Paylocity during the third quarter valued at approximately $43,000. Advisors Asset Management Inc. lifted its stake in Paylocity by 89.6% during the third quarter. Advisors Asset Management Inc. now owns 237 shares of the software maker’s stock valued at $43,000 after purchasing an additional 112 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Paylocity during the fourth quarter valued at approximately $44,000. Benjamin Edwards Inc. acquired a new stake in Paylocity during the second quarter valued at approximately $47,000. Finally, UniSuper Management Pty Ltd acquired a new stake in Paylocity during the second quarter valued at approximately $55,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the transaction, the director now owns 9,587,872 shares in the company, valued at approximately $1,682,383,899.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the transaction, the director now owns 9,587,872 shares in the company, valued at approximately $1,682,383,899.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey T. Diehl sold 20,032 shares of Paylocity stock in a transaction on Monday, March 11th. The stock was sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the completion of the transaction, the director now owns 16,391 shares in the company, valued at approximately $2,762,703.05. The disclosure for this sale can be found here. In the last three months, insiders sold 54,547 shares of company stock valued at $9,356,359. Company insiders own 22.50% of the company’s stock.

Paylocity Price Performance

NASDAQ PCTY opened at $156.88 on Thursday. The firm has a market cap of $8.84 billion, a P/E ratio of 53.00, a price-to-earnings-growth ratio of 3.45 and a beta of 0.87. The stock’s 50-day moving average is $169.17 and its two-hundred day moving average is $166.59. Paylocity Holding Co. has a fifty-two week low of $139.40 and a fifty-two week high of $230.52.

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

Wall Street Analyst Weigh In

PCTY has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, January 22nd. Piper Sandler raised their target price on Paylocity from $207.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Truist Financial dropped their price target on Paylocity from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Jefferies Financial Group reaffirmed a “hold” rating and set a $180.00 target price (down previously from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Finally, Citigroup increased their price target on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Paylocity 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.