Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 6.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,364 shares of the software maker’s stock after buying an additional 1,608 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Paylocity were worth $4,346,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in Paylocity in the fourth quarter worth approximately $36,000. Linden Thomas Advisory Services LLC grew its position in Paylocity by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,756 shares of the software maker’s stock worth $1,279,000 after purchasing an additional 136 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Paylocity by 8.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,246 shares of the software maker’s stock worth $205,000 after purchasing an additional 96 shares in the last quarter. New York State Common Retirement Fund grew its position in Paylocity by 2.7% during the 4th quarter. New York State Common Retirement Fund now owns 47,768 shares of the software maker’s stock worth $7,875,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Paylocity by 27.9% during the 4th quarter. Handelsbanken Fonder AB now owns 312,051 shares of the software maker’s stock worth $51,442,000 after purchasing an additional 68,110 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 9,587,872 shares of the company’s stock, valued at approximately $1,682,383,899.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Paylocity news, Director Jeffrey T. Diehl sold 20,032 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the completion of the transaction, the director now owns 16,391 shares of the company’s stock, valued at approximately $2,762,703.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 24,504 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the transaction, the director now directly owns 9,587,872 shares of the company’s stock, valued at approximately $1,682,383,899.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,547 shares of company stock valued at $9,356,359. Insiders own 22.50% of the company’s stock.

Paylocity Trading Up 0.3 %

PCTY stock opened at $157.06 on Friday. Paylocity Holding Co. has a 1 year low of $139.40 and a 1 year high of $230.52. The company has a fifty day simple moving average of $167.16 and a 200 day simple moving average of $165.04. The firm has a market cap of $8.85 billion, a PE ratio of 53.06, a PEG ratio of 3.39 and a beta of 0.87.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The business had revenue of $326.36 million during the quarter, compared to analyst estimates of $324.34 million. As a group, analysts forecast that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PCTY shares. Mizuho lowered their price objective on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Jefferies Financial Group reiterated a “hold” rating and set a $180.00 price objective (down from $240.00) on shares of Paylocity in a research report on Friday, January 5th. BTIG Research started coverage on shares of Paylocity in a research report on Tuesday, February 6th. They set a “buy” rating and a $200.00 price objective on the stock. KeyCorp lowered their price objective on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Finally, Citigroup boosted their price target on shares of Paylocity from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.13.

About Paylocity

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.