Teza Capital Management LLC Has $1.14 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Teza Capital Management LLC decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,705 shares of the software maker's stock after selling 2,823 shares during the quarter. Teza Capital Management LLC's holdings in Paylocity were worth $1,138,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. FMR LLC increased its position in shares of Paylocity by 138.5% during the 4th 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 in the last quarter. Invesco Ltd. increased its position in shares of Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after purchasing an additional 320,319 shares in the last quarter. American Century Companies Inc. increased its position in shares of Paylocity by 190.0% during the 4th quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock worth $69,774,000 after purchasing an additional 229,179 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of Paylocity by 6,025.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 125,758 shares of the software maker's stock worth $25,085,000 after purchasing an additional 123,705 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Paylocity by 34.5% during the 4th quarter. Point72 Asset Management L.P. now owns 416,531 shares of the software maker's stock worth $83,085,000 after purchasing an additional 106,770 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PCTY. JMP Securities reiterated a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Jefferies Financial Group dropped their target price on shares of Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. UBS Group increased their target price on shares of Paylocity from $195.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Piper Sandler reiterated an "overweight" rating and set a $258.00 target price (up previously from $254.00) 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, the stock has an average rating of "Moderate Buy" and an average target price of $223.00.

Paylocity Trading Down 1.0%

Shares of NASDAQ PCTY traded down $2.06 during mid-day trading on Friday, hitting $194.85. The company's stock had a trading volume of 300,569 shares, compared to its average volume of 461,443. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 49.96, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The company's fifty day simple moving average is $189.38 and its 200-day simple moving average is $197.84.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, beating 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 net margin of 14.76% and a return on equity of 22.45%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. On average, sell-side analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This trade represents a 5.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 21.91% of the stock is currently owned by corporate insiders.

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.