Teacher Retirement System of Texas Has $2.93 Million Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Teacher Retirement System of Texas increased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 44.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,678 shares of the software maker’s stock after acquiring an additional 4,525 shares during the period. Teacher Retirement System of Texas’ holdings in Paylocity were worth $2,928,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Paylocity in the 3rd quarter worth approximately $2,176,000. Charles Schwab Investment Management Inc. raised its stake in Paylocity by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after acquiring an additional 4,697 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Paylocity by 28.6% during the third quarter. Cerity Partners LLC now owns 17,046 shares of the software maker’s stock valued at $2,812,000 after acquiring an additional 3,794 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Paylocity by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 76,160 shares of the software maker’s stock worth $12,564,000 after purchasing an additional 2,354 shares during the last quarter. Finally, Associated Banc Corp acquired a new stake in shares of Paylocity during the 3rd quarter worth about $216,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of recent analyst reports. TD Cowen reduced their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Needham & Company LLC boosted their target price on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JMP Securities raised their price target on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Finally, Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and raised their target price for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 3,083 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the transaction, the director now owns 8,335,347 shares in the company, valued at approximately $1,673,154,203.31. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 28,926 shares of company stock worth $5,578,628. 21.91% of the stock is currently owned by company insiders.

Paylocity Trading Down 0.7 %

Shares of NASDAQ PCTY opened at $194.69 on Wednesday. The company’s 50 day simple moving average is $201.60 and its 200 day simple moving average is $192.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The firm has a market capitalization of $10.88 billion, a P/E ratio of 49.92, a P/E/G ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Paylocity Profile

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.