Public Employees Retirement Association of Colorado Reduces Position in Paylocity Holding Co. (NASDAQ:PCTY)

Public Employees Retirement Association of Colorado reduced its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,018 shares of the software maker’s stock after selling 166 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Paylocity were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PCTY. Sei Investments Co. boosted its position in shares of Paylocity by 25.2% during the 4th quarter. Sei Investments Co. now owns 192,028 shares of the software maker’s stock worth $31,654,000 after acquiring an additional 38,613 shares in the last quarter. Evoke Wealth LLC acquired a new position in Paylocity in the fourth quarter valued at approximately $2,507,000. Wells Fargo & Company MN raised its holdings in Paylocity by 274.8% during the fourth quarter. Wells Fargo & Company MN now owns 65,010 shares of the software maker’s stock worth $10,717,000 after purchasing an additional 47,663 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Paylocity during the 1st quarter worth approximately $1,540,000. Finally, Royal London Asset Management Ltd. purchased a new stake in shares of Paylocity during the 4th quarter worth approximately $1,938,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Trading Down 2.3 %

Shares of PCTY opened at $161.58 on Thursday. The firm has a market capitalization of $8.98 billion, a PE ratio of 46.97, a P/E/G ratio of 3.98 and a beta of 0.94. The stock’s 50 day moving average is $155.01 and its two-hundred day moving average is $154.72. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $206.28.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.19. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The firm had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. Paylocity’s quarterly revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts predict that Paylocity Holding Co. will post 4.51 EPS for the current year.

Insider Activity

In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the transaction, the chief financial officer now directly owns 31,074 shares in the company, valued at $4,352,224.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Paylocity news, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the sale, the chief financial officer now owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total value of $7,054,384.56. Following the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The disclosure for this sale can be found here. Insiders own 22.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PCTY. Barclays cut their price target on shares of Paylocity from $160.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. TD Cowen reduced their target price on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Piper Sandler dropped their price target on Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus reduced their price objective on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Truist Financial lowered their target price on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.13.

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.