California Public Employees Retirement System Has $14.73 Million Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

California Public Employees Retirement System decreased its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,819 shares of the software maker’s stock after selling 3,930 shares during the quarter. California Public Employees Retirement System owned 0.13% of Paylocity worth $14,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Paylocity by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock valued at $1,916,000 after purchasing an additional 49 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after buying an additional 63 shares during the period. UMB Bank n.a. increased its position in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after buying an additional 72 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Paylocity by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock worth $630,000 after buying an additional 77 shares during the period. Finally, Gallacher Capital Management LLC lifted its holdings in Paylocity by 4.6% during the fourth quarter. Gallacher Capital Management LLC now owns 1,989 shares of the software maker’s stock worth $397,000 after acquiring an additional 88 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 26,252 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares of the company’s stock, valued at $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Stock Down 4.3 %

NASDAQ:PCTY opened at $174.88 on Friday. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The stock’s 50 day moving average price is $199.66 and its two-hundred day moving average price is $193.20.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results 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%. Equities research analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on PCTY. Jefferies Financial Group raised their price target on Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. UBS Group raised their target price on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Barclays upped their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, KeyCorp upped their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Company 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.