Louisiana State Employees Retirement System Takes $1.37 Million Position in Paylocity Holding Corporation $PCTY

Louisiana State Employees Retirement System acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) during the first quarter, HoldingsChannel reports. The fund acquired 12,700 shares of the software maker’s stock, valued at approximately $1,372,000.

Other large investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new position in shares of Paylocity in the 3rd quarter worth $104,657,000. Norges Bank bought a new stake in Paylocity in the fourth quarter valued at about $88,428,000. Morgan Stanley increased its holdings in Paylocity by 117.9% in the fourth quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock valued at $124,625,000 after purchasing an additional 442,218 shares during the last quarter. AQR Capital Management LLC lifted its stake in Paylocity by 75.1% in the fourth quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock valued at $143,747,000 after buying an additional 404,605 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Paylocity by 261.2% in the fourth quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock valued at $81,509,000 after buying an additional 386,494 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In other news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the completion of the transaction, the senior vice president directly owned 17,679 shares in the company, valued at $2,033,968.95. This represents a 4.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PCTY. BMO Capital Markets boosted their target price on Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Raymond James Financial set a $140.00 price objective on shares of Paylocity in a research note on Friday, May 8th. Citigroup boosted their price objective on shares of Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a report on Monday, May 11th. Barclays upped their target price on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Robert W. Baird set a $193.00 target price on shares of Paylocity in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $156.61.

Paylocity Stock Up 3.4%

Paylocity stock opened at $115.10 on Friday. The company has a market cap of $6.16 billion, a P/E ratio of 24.54 and a beta of 0.52. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78. The company has a fifty day simple moving average of $108.05 and a 200 day simple moving average of $118.27. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.