Nisa Investment Advisors LLC Acquires 3,662 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Nisa Investment Advisors LLC grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 301.6% in the 4th quarter, Holdings Channel reports. The fund owned 4,876 shares of the software maker’s stock after purchasing an additional 3,662 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Paylocity were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in Paylocity by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 10,413 shares of the software maker’s stock worth $1,816,000 after purchasing an additional 45 shares during the period. Parkside Financial Bank & Trust lifted its position in Paylocity by 5.5% in the second quarter. Parkside Financial Bank & Trust now owns 1,059 shares of the software maker’s stock worth $195,000 after purchasing an additional 55 shares during the period. CWM LLC lifted its holdings in shares of Paylocity by 18.1% during the third quarter. CWM LLC now owns 412 shares of the software maker’s stock valued at $75,000 after acquiring an additional 63 shares during the period. Toroso Investments LLC lifted its holdings in shares of Paylocity by 6.0% during the third quarter. Toroso Investments LLC now owns 1,245 shares of the software maker’s stock valued at $226,000 after acquiring an additional 71 shares during the period. Finally, Seven Eight Capital LP lifted its holdings in shares of Paylocity by 4.9% during the third quarter. Seven Eight Capital LP now owns 1,658 shares of the software maker’s stock valued at $301,000 after acquiring an additional 78 shares during the period. 94.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Paylocity news, CEO Steven R. Beauchamp sold 7,760 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the transaction, the chief executive officer now owns 1,746,468 shares in the company, valued at $291,572,832.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Paylocity news, CEO Steven R. Beauchamp sold 7,760 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the transaction, the chief executive officer now owns 1,746,468 shares in the company, valued at $291,572,832.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey T. Diehl sold 1,760 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total value of $302,086.40. Following the transaction, the director now owns 14,704 shares in the company, valued at approximately $2,523,794.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,547 shares of company stock worth $9,356,359. Insiders own 22.50% of the company’s stock.

Paylocity Stock Down 3.0 %

Shares of PCTY stock opened at $159.00 on Wednesday. The stock has a 50-day moving average price of $169.40 and a 200 day moving average price of $166.66. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 53.72, a PEG ratio of 3.64 and a beta of 0.87. Paylocity Holding Co. has a 12 month low of $139.40 and a 12 month high of $230.52.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PCTY shares. Truist Financial cut their price objective on Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 9th. Mizuho cut their price objective on Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, February 9th. KeyCorp lowered their target price on Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Piper Sandler raised their target price on Paylocity from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a research note on Monday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.