State of Tennessee Department of Treasury Boosts Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

State of Tennessee Department of Treasury raised its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,750 shares of the software maker's stock after buying an additional 1,334 shares during the period. State of Tennessee Department of Treasury's holdings in Paylocity were worth $3,940,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Certuity LLC purchased a new position in shares of Paylocity in the fourth quarter worth about $232,000. Barclays PLC lifted its position in Paylocity by 14.3% during the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after acquiring an additional 5,609 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after purchasing an additional 5,742 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Paylocity during the fourth quarter valued at $29,000. Finally, Park Avenue Securities LLC raised its position in shares of Paylocity by 63.3% in the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock worth $1,115,000 after purchasing an additional 2,167 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Insider Transactions at Paylocity

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PCTY. StockNews.com cut Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. JMP Securities reissued a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a report on Tuesday. UBS Group boosted their price objective on shares of Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. KeyCorp lowered their target price on Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup reduced their price target on Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Paylocity has an average rating of "Moderate Buy" and an average price target of $226.12.

Paylocity Price Performance

Shares of Paylocity stock traded up $2.46 during trading hours on Thursday, reaching $194.56. The company's stock had a trading volume of 102,093 shares, compared to its average volume of 443,898. The stock has a market cap of $10.87 billion, a P/E ratio of 49.85, a P/E/G ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50 day moving average price of $189.57 and a 200-day moving average price of $195.86.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its 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 net margin of 14.76% and a return on equity of 22.45%. On average, analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

About Paylocity

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.