Strs Ohio Sells 3,800 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Strs Ohio cut its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 44.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,800 shares of the software maker’s stock after selling 3,800 shares during the period. Strs Ohio’s holdings in Paylocity were worth $791,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Paylocity in the 4th quarter valued at about $82,172,000. Liontrust Investment Partners LLP acquired a new stake in shares of Paylocity in the 3rd quarter valued at about $90,181,000. Comerica Bank acquired a new stake in shares of Paylocity in the 3rd quarter valued at about $18,506,000. Westfield Capital Management Co. LP grew its stake in shares of Paylocity by 26.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock valued at $85,856,000 after buying an additional 99,781 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Paylocity in the 3rd quarter valued at about $17,262,000. 94.76% of the stock is owned by institutional investors.

Paylocity Trading Down 1.7 %

Shares of NASDAQ PCTY opened at $156.16 on Thursday. The stock has a fifty day simple moving average of $167.94 and a two-hundred day simple moving average of $165.42. Paylocity Holding Co. has a 1-year low of $139.40 and a 1-year high of $230.52. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 52.76, a price-to-earnings-growth ratio of 3.46 and a beta of 0.87.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. The business had revenue of $326.36 million during the quarter, compared to analyst estimates of $324.34 million. Analysts forecast that Paylocity Holding Co. will post 3.48 EPS for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the sale, the director now owns 14,704 shares in the company, valued at $2,523,794.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Paylocity news, Director Jeffrey T. Diehl sold 20,032 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the sale, the director now owns 16,391 shares in the company, valued at $2,762,703.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total value of $302,086.40. Following the sale, the director now owns 14,704 shares in the company, valued at approximately $2,523,794.56. 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 90 days. Corporate insiders own 22.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PCTY. 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. Piper Sandler lifted their price target on Paylocity from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price target on shares of Paylocity in a research note on Friday, February 9th. Citigroup lifted their price target on Paylocity from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $180.00 price target (down previously from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

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.