Public Employees Retirement System of Ohio Sells 1,927 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Public Employees Retirement System of Ohio lowered its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,481 shares of the software maker's stock after selling 1,927 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.11% of Paylocity worth $12,663,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Paylocity by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after purchasing an additional 46,183 shares during the period. Invesco Ltd. lifted its stake in Paylocity by 31.7% in the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after buying an additional 320,319 shares during the period. Geode Capital Management LLC boosted its stake in Paylocity by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock worth $214,275,000 after acquiring an additional 25,182 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Paylocity by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock valued at $172,300,000 after buying an additional 7,251 shares in the last quarter. Finally, FMR LLC raised its position in shares of Paylocity by 138.5% during the fourth quarter. FMR LLC now owns 650,599 shares of the software maker's stock worth $129,775,000 after purchasing an additional 377,835 shares during the period. Institutional investors own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PCTY shares. Jefferies Financial Group lowered their target price on Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Scotiabank assumed coverage on shares of Paylocity in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 target price for the company. Stifel Nicolaus cut their target price on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. UBS Group lifted their target price on Paylocity from $195.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $250.00 price target on shares of Paylocity in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and an average target price of $223.00.

Paylocity Trading Up 1.3%

Shares of Paylocity stock traded up $2.59 on Tuesday, hitting $197.44. The stock had a trading volume of 395,117 shares, compared to its average volume of 461,178. The firm has a market capitalization of $10.90 billion, a P/E ratio of 50.63, a PEG ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The stock has a 50 day moving average of $189.60 and a 200 day moving average of $197.63. 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 (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.34. The company had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Sell-side analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction dated 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 transaction, the director now owns 420,000 shares of the company's stock, valued at $81,862,200. This represents a 5.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.91% of the company's stock.

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.