Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,961 shares of the software maker’s stock after selling 85 shares during the quarter. State of Alaska Department of Revenue’s holdings in Paylocity were worth $989,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PCTY. Prospera Private Wealth LLC bought a new stake in shares of Paylocity in the 3rd quarter worth approximately $39,000. UMB Bank n.a. lifted its holdings in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares during the last quarter. Quarry LP lifted its holdings in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 12,226 shares of Paylocity stock in a transaction on Monday, November 18th. The stock was sold at an average price of $196.29, for a total value of $2,399,841.54. Following the transaction, the director now directly owns 9,300,847 shares in the company, valued at $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,434 shares of company stock worth $25,636,985 in the last three months. 21.91% of the stock is currently owned by insiders.

Paylocity Stock Up 1.6 %

PCTY opened at $217.56 on Friday. 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 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The stock’s fifty day moving average is $201.45 and its 200-day moving average is $182.80. The company has a market capitalization of $12.13 billion, a PE ratio of 55.78, a P/E/G ratio of 5.19 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. On average, equities analysts predict that Paylocity Holding Co. will post 4.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PCTY. JMP Securities lifted their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. UBS Group lifted their target price on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. KeyCorp lifted their target price on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Raymond James reaffirmed an “outperform” rating and set a $265.00 target price (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Finally, Needham & Company LLC lifted their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three equities 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, the company currently has an average rating of “Moderate Buy” and an average price target of $233.25.

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.