Paylocity Holding Corporation (NASDAQ:PCTY) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,106 shares of the software maker’s stock after purchasing an additional 145 shares during the period. State of Alaska Department of Revenue’s holdings in Paylocity were worth $956,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity during the fourth quarter worth approximately $29,000. Charles Schwab Investment Management Inc. increased its position in Paylocity by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,556 shares of the software maker’s stock worth $56,960,000 after acquiring an additional 3,130 shares during the period. UMB Bank n.a. increased its holdings in Paylocity by 89.1% in the 1st quarter. UMB Bank n.a. now owns 467 shares of the software maker’s stock valued at $87,000 after buying an additional 220 shares during the period. Vanguard Group Inc. increased its holdings in Paylocity by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock valued at $803,745,000 after buying an additional 46,183 shares during the period. Finally, Private Advisor Group LLC bought a new stake in Paylocity in the 4th quarter valued at $246,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $176.74, for a total value of $303,462.58. Following the transaction, the senior vice president now owns 11,953 shares in the company, valued at $2,112,573.22. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 21.91% of the stock is owned by company insiders.

Paylocity Trading Up 0.9%

Shares of Paylocity stock opened at $177.16 on Friday. The business has a fifty day simple moving average of $189.05 and a two-hundred day simple moving average of $194.61. Paylocity Holding Corporation has a 1 year low of $129.94 and a 1 year high of $223.80. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 44.18, a P/E/G ratio of 3.58 and a beta of 0.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 1.13.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. The firm had revenue of $454.55 million for the quarter, compared to analysts’ expectations of $441.77 million. During the same quarter last year, the business earned $2.21 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Analyst Upgrades and Downgrades

PCTY has been the topic of several recent analyst reports. Mizuho reduced their target price on shares of Paylocity from $245.00 to $220.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price target (up from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. JMP Securities reissued a “market outperform” rating and set a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Scotiabank assumed coverage on shares of Paylocity in a research note on Wednesday, April 16th. They set a “sector perform” rating and a $190.00 price target for the company. Finally, Barclays raised their price target on shares of Paylocity from $204.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $224.75.

Paylocity 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.