Louisiana State Employees Retirement System Makes New Investment in Paylocity Holding Co. (NASDAQ:PCTY)

Louisiana State Employees Retirement System acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,100 shares of the software maker's stock, valued at approximately $1,995,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCTY. Nordea Investment Management AB grew its position in shares of Paylocity by 195.8% in the 3rd quarter. Nordea Investment Management AB now owns 6,280 shares of the software maker's stock worth $1,156,000 after buying an additional 4,157 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Paylocity by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker's stock valued at $753,012,000 after purchasing an additional 25,562 shares during the last quarter. Walleye Capital LLC boosted its position in shares of Paylocity by 132.0% in the 3rd quarter. Walleye Capital LLC now owns 14,623 shares of the software maker's stock worth $2,657,000 after purchasing an additional 8,319 shares in the last quarter. Trust Point Inc. purchased a new position in Paylocity during the 4th quarter worth $1,023,000. Finally, Machina Capital S.A.S. acquired a new position in Paylocity during the 3rd quarter valued at about $229,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insider Activity

In related news, Director Steven I. Sarowitz sold 24,504 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $175.47, for a total value of $4,299,716.88. Following the completion of the transaction, the director now directly owns 9,587,872 shares of the company's stock, valued at approximately $1,682,383,899.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Steven I. Sarowitz sold 24,504 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the sale, the director now owns 9,587,872 shares of the company's stock, valued at approximately $1,682,383,899.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine Ross sold 491 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total transaction of $82,630.39. Following the completion of the sale, the senior vice president now owns 15,353 shares of the company's stock, valued at approximately $2,583,756.37. The disclosure for this sale can be found here. Insiders have sold a total of 54,547 shares of company stock worth $9,356,359 over the last quarter. 22.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PCTY has been the topic of several recent analyst reports. BTIG Research started coverage on shares of Paylocity in a report on Tuesday, February 6th. They set a "buy" rating and a $200.00 price objective on the stock. JMP Securities reiterated a "market outperform" rating and set a $250.00 price objective on shares of Paylocity in a research note on Monday, January 22nd. Truist Financial reduced their target price on Paylocity from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, February 9th. Citigroup raised their price objective on Paylocity from $180.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 31st. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $180.00 price target (down previously from $240.00) on shares of Paylocity in a report on Friday, January 5th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $205.13.

Paylocity Trading Up 0.4 %

NASDAQ:PCTY traded up $0.62 during trading hours on Thursday, reaching $157.50. 444,782 shares of the company were exchanged, compared to its average volume of 465,080. The firm has a market cap of $8.87 billion, a PE ratio of 53.21, a price-to-earnings-growth ratio of 3.45 and a beta of 0.87. Paylocity Holding Co. has a twelve month low of $139.40 and a twelve month high of $230.52. The stock's 50-day moving average is $168.88 and its 200-day moving average is $166.53.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The firm had revenue of $326.36 million during the quarter, compared to the consensus estimate of $324.34 million. As a group, research analysts anticipate that Paylocity Holding Co. will post 3.48 EPS for the current year.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.