12,100 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 12,100 shares of the software maker’s stock, valued at approximately $1,995,000.

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

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the firm’s stock in a transaction dated 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 directly owns 9,587,872 shares of the company’s stock, valued at approximately $1,682,383,899.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Steven R. Beauchamp sold 7,760 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $166.95, for a total value of $1,295,532.00. Following the sale, the chief executive officer now directly owns 1,746,468 shares in the company, valued at approximately $291,572,832.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 24,504 shares of the firm’s stock in a transaction that occurred on 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 owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The disclosure for this sale can be found here. Insiders have sold a total of 54,547 shares of company stock valued at $9,356,359 in the last ninety days. 22.50% of the stock is currently owned by company insiders.

Paylocity Stock Performance

NASDAQ:PCTY opened at $156.88 on Thursday. Paylocity Holding Co. has a 52 week low of $139.40 and a 52 week high of $230.52. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 53.00, a P/E/G ratio of 3.45 and a beta of 0.87. The firm’s 50-day simple moving average is $169.17 and its 200 day simple moving average is $166.59.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research note on Monday, January 22nd. Piper Sandler increased their price target on shares of Paylocity from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Citigroup increased their price target on shares of Paylocity from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. BTIG Research began coverage on shares of Paylocity in a research report on Tuesday, February 6th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, Mizuho dropped their price objective on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and an average price target 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.