Strs Ohio Sells 3,800 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Strs Ohio lowered its position in Paylocity Holding Co. (NASDAQ:PCTY) by 44.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,800 shares of the software maker’s stock after selling 3,800 shares during the period. Strs Ohio’s holdings in Paylocity were worth $791,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Paylocity by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock worth $753,012,000 after buying an additional 25,562 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Paylocity in the 4th quarter worth $82,172,000. Liontrust Investment Partners LLP purchased a new stake in Paylocity in the 3rd quarter worth $90,181,000. Westfield Capital Management Co. LP lifted its stake in Paylocity by 26.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock worth $85,856,000 after purchasing an additional 99,781 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Paylocity by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 461,992 shares of the software maker’s stock worth $83,944,000 after purchasing an additional 11,025 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other Paylocity news, CEO Steven R. Beauchamp sold 7,760 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,746,468 shares in the company, valued at approximately $291,572,832.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Steven R. Beauchamp sold 7,760 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 directly owns 1,746,468 shares in the company, valued at $291,572,832.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 24,504 shares of the 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 transaction, 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 54,547 shares of company stock worth $9,356,359 in the last three months. Corporate insiders own 22.50% of the company’s stock.

Paylocity Trading Down 1.7 %

Shares of NASDAQ:PCTY opened at $156.16 on Thursday. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 52.76, a PEG ratio of 3.46 and a beta of 0.87. The firm’s 50-day moving average is $167.94 and its 200 day moving average is $165.42. Paylocity Holding Co. has a 12 month low of $139.40 and a 12 month high of $230.52.

Paylocity (NASDAQ:PCTY) last issued its earnings results 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 business had revenue of $326.36 million for the quarter, compared to the consensus estimate of $324.34 million. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. As a group, equities analysts forecast that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho decreased their price target on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Piper Sandler boosted their price target on shares of Paylocity from $207.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Jefferies Financial Group reiterated a “hold” rating and issued a $180.00 price target (down previously from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Needham & Company LLC restated a “buy” rating and set a $200.00 target price on shares of Paylocity in a research report on Friday, February 9th. Finally, Citigroup upped their target price on shares of Paylocity from $180.00 to $182.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.13.

Paylocity Company 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.