Louisiana State Employees Retirement System Purchases 100 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Louisiana State Employees Retirement System increased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,100 shares of the software maker’s stock after purchasing an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Paylocity were worth $2,414,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Shaker Investments LLC OH boosted its holdings in shares of Paylocity by 59.2% during the 4th quarter. Shaker Investments LLC OH now owns 18,567 shares of the software maker’s stock valued at $3,704,000 after buying an additional 6,902 shares in the last quarter. Peterson Wealth Services lifted its position in Paylocity by 5.5% during the 4th quarter. Peterson Wealth Services now owns 4,999 shares of the software maker’s stock valued at $997,000 after acquiring an additional 261 shares during the period. Summit Trail Advisors LLC bought a new stake in Paylocity during the fourth quarter worth about $400,000. Burns Matteson Capital Management LLC purchased a new stake in Paylocity in the fourth quarter worth about $421,000. Finally, Entropy Technologies LP increased its stake in shares of Paylocity by 249.3% during the fourth quarter. Entropy Technologies LP now owns 4,300 shares of the software maker’s stock valued at $858,000 after purchasing an additional 3,069 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on PCTY shares. Truist Financial upped their price target on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price target on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. Raymond James reiterated an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. TD Cowen reduced their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the transaction, the director now directly owns 9,214,115 shares in the company, valued at $1,935,885,561.50. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Nicholas Rost sold 212 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $40,977.48. Following the sale, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,434 shares of company stock worth $25,636,985. Corporate insiders own 21.91% of the company’s stock.

Paylocity Trading Down 0.3 %

Paylocity stock opened at $216.96 on Friday. The business has a 50-day simple moving average of $201.72 and a two-hundred day simple moving average of $183.04. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $12.13 billion, a P/E ratio of 55.63, a P/E/G ratio of 5.19 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. Analysts predict that Paylocity Holding Co. will post 4.46 EPS for the current year.

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.