South Dakota Investment Council Has $541,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

South Dakota Investment Council trimmed its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 54.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,714 shares of the software maker’s stock after selling 3,300 shares during the period. South Dakota Investment Council’s holdings in Paylocity were worth $541,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PCTY. Geode Capital Management LLC raised its holdings in Paylocity by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after buying an additional 36,590 shares during the last quarter. JPMorgan Chase & Co. increased its position in Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after acquiring an additional 385,625 shares during the period. Janus Henderson Group PLC grew its stake in shares of Paylocity by 3.5% in the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after purchasing an additional 17,560 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after purchasing an additional 229,057 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Paylocity by 3.2% in the third quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock valued at $47,389,000 after purchasing an additional 8,878 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Up 1.1 %

Shares of NASDAQ:PCTY opened at $207.11 on Tuesday. The firm has a market cap of $11.57 billion, a P/E ratio of 53.11, a PEG ratio of 4.49 and a beta of 0.95. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The business’s 50 day simple moving average is $202.91 and its two-hundred day simple moving average is $186.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

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 net margin of 14.76% and a return on equity of 22.45%. As a group, research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $254.00 price objective (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. JMP Securities increased their target price on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. UBS Group boosted their price target on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, TD Cowen decreased their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average price target of $233.25.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the sale, the director now owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. This represents a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 82,486 shares of company stock valued at $16,875,663 over the last three months. Corporate insiders own 21.91% of the company’s stock.

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.