Paylocity Holding Corporation $PCTY Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System boosted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,283 shares of the software maker’s stock after buying an additional 8,148 shares during the period. California Public Employees Retirement System owned 0.17% of Paylocity worth $9,862,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. State of Michigan Retirement System boosted its stake in shares of Paylocity by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock worth $1,131,000 after acquiring an additional 100 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Paylocity by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock valued at $521,000 after purchasing an additional 106 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Paylocity by 35.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock valued at $77,000 after purchasing an additional 111 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Paylocity by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock valued at $1,126,000 after purchasing an additional 122 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Paylocity by 0.4% during the 4th quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker’s stock worth $4,535,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity

In related news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total value of $103,429.95. Following the completion of the sale, the senior vice president owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 19.40% of the company’s stock.

Paylocity Stock Up 3.9%

Shares of NASDAQ:PCTY opened at $125.27 on Friday. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78. The stock has a market cap of $6.71 billion, a P/E ratio of 26.71 and a beta of 0.52. The business has a fifty day moving average of $113.11 and a two-hundred day moving average of $115.09. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PCTY shares. Truist Financial dropped their target price on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, June 29th. UBS Group boosted their price target on shares of Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen lowered their price target on shares of Paylocity from $155.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. BMO Capital Markets upped their price objective on shares of Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group set a $135.00 price objective on shares of Paylocity in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $151.88.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.