South Dakota Investment Council Sells 3,300 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

South Dakota Investment Council decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 54.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,714 shares of the software maker’s stock after selling 3,300 shares during the quarter. South Dakota Investment Council’s holdings in Paylocity were worth $541,000 at the end of the most recent reporting period.

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

Insider Activity

In other Paylocity news, CFO Ryan Glenn sold 2,600 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the completion of the transaction, the chief financial officer now owns 48,150 shares in the company, valued at approximately $9,890,010. This represents a 5.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven I. Sarowitz sold 2,900 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $208.17, for a total value of $603,693.00. Following the completion of the sale, the director now owns 9,211,215 shares in the company, valued at approximately $1,917,498,626.55. This trade represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,486 shares of company stock worth $16,875,663 in the last 90 days. Corporate insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on PCTY shares. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and increased their price target for the company from $200.00 to $235.00 in a research note on Friday, January 31st. JMP Securities increased their price objective on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and raised their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $254.00 price objective (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Stock Up 1.1 %

Shares of NASDAQ:PCTY opened at $207.11 on Tuesday. The company has a 50 day moving average price of $202.91 and a two-hundred day moving average price of $186.43. The company has a market capitalization of $11.57 billion, a PE 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 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 issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 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%. Analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share 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.