California Public Employees Retirement System Has $14.73 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

California Public Employees Retirement System reduced its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 5.1% during the 4th quarter, Holdings Channel reports. The fund owned 73,819 shares of the software maker’s stock after selling 3,930 shares during the period. California Public Employees Retirement System’s holdings in Paylocity were worth $14,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its stake in Paylocity by 128.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 75,501 shares of the software maker’s stock valued at $15,060,000 after purchasing an additional 42,451 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Paylocity by 17.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 10,988 shares of the software maker’s stock valued at $2,192,000 after acquiring an additional 1,609 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Paylocity in the fourth quarter valued at about $1,919,000. Norges Bank bought a new position in Paylocity during the fourth quarter worth about $12,131,000. Finally, JPMorgan Chase & Co. raised its stake in Paylocity by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock worth $172,300,000 after purchasing an additional 7,251 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCTY has been the topic of a number of analyst reports. Barclays increased their target price on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. KeyCorp raised their price objective on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. TD Cowen cut their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Finally, Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Stock Performance

NASDAQ PCTY opened at $174.88 on Friday. The firm’s fifty day moving average price is $199.66 and its two-hundred day moving average price is $193.20. The stock has a market cap of $9.77 billion, a PE ratio of 44.84, a PEG ratio of 4.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, equities analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares of the company’s stock, valued at $81,862,200. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.91% of the stock is owned by company insiders.

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.