New York State Teachers Retirement System Decreases Position in Paylocity Holding Co. (NASDAQ:PCTY)

New York State Teachers Retirement System cut its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,530 shares of the software maker’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Paylocity worth $6,191,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PCTY. Daiwa Securities Group Inc. raised its holdings in Paylocity by 3.6% during the first quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock worth $498,000 after purchasing an additional 100 shares in the last quarter. King Luther Capital Management Corp increased its stake in shares of Paylocity by 1.0% during the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after acquiring an additional 103 shares during the period. J.Safra Asset Management Corp raised its stake in shares of Paylocity by 80.0% during the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares in the last quarter. SkyOak Wealth LLC lifted its stake in shares of Paylocity by 7.1% in the second quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock valued at $242,000 after purchasing an additional 122 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Paylocity by 2.9% during the 2nd quarter. Toronto Dominion Bank now owns 4,413 shares of the software maker’s stock worth $582,000 after acquiring an additional 126 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Price Performance

Shares of PCTY stock opened at $191.35 on Tuesday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $193.01. The stock has a market capitalization of $10.67 billion, a PE ratio of 48.94, a PEG ratio of 4.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.13 and a current ratio of 1.32. The stock’s fifty day moving average is $166.28 and its 200-day moving average is $155.30.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PCTY shares. Mizuho raised their price objective on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research report on Friday. BTIG Research decreased their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. BMO Capital Markets increased their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial lifted their price target on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $194.20.

Insider Activity

In other news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.91% of the stock is currently owned by insiders.

Paylocity Company 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.