Teacher Retirement System of Texas Grows Stock Holdings in Paylocity Holding Corporation (NASDAQ:PCTY)

Teacher Retirement System of Texas lifted its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 146.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,234 shares of the software maker's stock after buying an additional 21,556 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Paylocity worth $6,788,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Paylocity by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock worth $1,916,000 after purchasing an additional 49 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Paylocity by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock valued at $3,813,000 after buying an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the period. HighPoint Advisor Group LLC lifted its stake in Paylocity by 5.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock worth $326,000 after acquiring an additional 75 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Paylocity by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker's stock valued at $630,000 after acquiring an additional 77 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank initiated coverage on shares of Paylocity in a research note on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price target on the stock. Barclays upped their target price on shares of Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. UBS Group raised their price target on shares of Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. KeyCorp dropped their price target on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $258.00 price objective (up from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Three 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $224.75.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the transaction, the senior vice president directly owned 11,953 shares in the company, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.91% of the stock is currently owned by company insiders.

Paylocity Stock Down 0.5%

Shares of PCTY traded down $1.01 during mid-day trading on Wednesday, reaching $184.20. The company's stock had a trading volume of 89,083 shares, compared to its average volume of 452,170. The stock has a market cap of $10.17 billion, a PE ratio of 45.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 1.13. Paylocity Holding Corporation has a 12-month low of $130.51 and a 12-month high of $223.80. The company's 50 day moving average is $188.29 and its 200 day moving average is $193.39.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. The company had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. The firm's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 earnings per share. Equities analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal 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.