Retirement Systems of Alabama Sells 981 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Retirement Systems of Alabama lessened its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 52,650 shares of the software maker’s stock after selling 981 shares during the period. Retirement Systems of Alabama owned approximately 0.09% of Paylocity worth $8,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Paylocity by 3.6% during the 3rd 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 period. Liontrust Investment Partners LLP grew its position in Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after buying an additional 172,807 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in Paylocity by 20.5% during the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after acquiring an additional 98,478 shares during the period. Janus Henderson Group PLC raised its holdings in Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after acquiring an additional 17,560 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Paylocity by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock valued at $62,324,000 after acquiring an additional 21,127 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at Paylocity

In related news, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction dated 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 directly owns 7,364 shares of the company’s stock, valued at $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the sale, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,710 shares of company stock worth $28,124,978. 21.91% of the stock is currently owned by insiders.

Paylocity Stock Up 0.1 %

Shares of PCTY opened at $203.08 on Wednesday. The business’s 50 day simple moving average is $192.71 and its 200-day simple moving average is $164.61. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company has a market capitalization of $11.32 billion, a P/E ratio of 51.94, a PEG ratio of 4.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PCTY shares. KeyCorp boosted their price objective on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Truist Financial boosted their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays raised their price objective on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. TD Cowen upped their target price on shares of Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and an average target price of $205.71.

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.