California State Teachers Retirement System Buys 996 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

California State Teachers Retirement System increased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,156 shares of the software maker’s stock after acquiring an additional 996 shares during the quarter. California State Teachers Retirement System’s holdings in Paylocity were worth $12,401,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCTY. WCM Investment Management LLC lifted its position in Paylocity by 2.3% during the first quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock valued at $525,000 after purchasing an additional 69 shares during the last quarter. Avior Wealth Management LLC lifted its position in Paylocity by 2.4% during the fourth quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker’s stock valued at $531,000 after purchasing an additional 76 shares during the last quarter. Shaker Investments LLC OH lifted its position in Paylocity by 0.3% during the fourth quarter. Shaker Investments LLC OH now owns 23,672 shares of the software maker’s stock valued at $3,902,000 after purchasing an additional 77 shares during the last quarter. GAMMA Investing LLC lifted its position in Paylocity by 34.7% during the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after purchasing an additional 78 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Paylocity by 8.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,246 shares of the software maker’s stock valued at $205,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

PCTY stock traded down $1.38 during trading on Friday, reaching $146.85. The company had a trading volume of 55,183 shares, compared to its average volume of 521,592. The firm has a 50-day simple moving average of $140.56 and a 200-day simple moving average of $156.82. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 43.09, a price-to-earnings-growth ratio of 2.59 and a beta of 0.92. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $217.13.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. The company had revenue of $401.28 million during the quarter, compared to analyst estimates of $396.93 million. Sell-side analysts expect that Paylocity Holding Co. will post 3.95 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PCTY shares. Jefferies Financial Group reduced their target price on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Piper Sandler reduced their target price on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Citigroup reduced their target price on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Needham & Company LLC reissued a “buy” rating and issued a $200.00 target price on shares of Paylocity in a research note on Friday. Finally, KeyCorp reduced their target price on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.59.

Insiders Place Their Bets

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ryan Glenn sold 1,400 shares of Paylocity stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the transaction, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,173 shares of company stock valued at $7,296,388. 22.50% of the stock is owned by insiders.

About Paylocity

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.