Teachers Retirement System of The State of Kentucky Sells 380 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,979 shares of the software maker’s stock after selling 380 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Paylocity were worth $2,141,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PCTY. UMB Bank n.a. increased its position in Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Paylocity during the 3rd quarter worth $39,000. Rothschild Investment LLC purchased a new stake in Paylocity in the 2nd quarter worth about $40,000. Signaturefd LLC increased its holdings in Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares during the last quarter. Finally, Quarry LP raised its stake in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PCTY shares. BMO Capital Markets lifted their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price objective on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. KeyCorp increased their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. TD Cowen lifted their price target on Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial boosted their price objective on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 10,621 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $200.86, for a total value of $2,133,334.06. Following the completion of the transaction, the director now directly owns 8,365,533 shares in the company, valued at approximately $1,680,300,958.38. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 4,513 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the sale, the director now owns 1,003 shares in the company, valued at $210,539.73. The trade was a 81.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 139,710 shares of company stock valued at $28,124,978 in the last quarter. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Up 1.3 %

PCTY stock opened at $202.78 on Tuesday. The company’s 50 day moving average is $191.97 and its 200 day moving average is $164.21. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 51.86, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68.

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.