Teacher Retirement System of Texas Has $2.93 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Teacher Retirement System of Texas raised its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 44.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,678 shares of the software maker’s stock after purchasing an additional 4,525 shares during the quarter. Teacher Retirement System of Texas’ holdings in Paylocity were worth $2,928,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in Paylocity during the fourth quarter valued at $29,000. UMB Bank n.a. increased its holdings in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares during the period. Quarry LP lifted its position in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after purchasing an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity

In related news, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the transaction, the director now directly owns 8,332,347 shares in the company, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 28,926 shares of company stock valued at $5,578,628. Insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the topic of several research analyst reports. Barclays boosted their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. UBS Group upped their target price on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. TD Cowen reduced their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Finally, KeyCorp lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $194.69 on Wednesday. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 4.49 and a beta of 0.94. The business has a 50 day moving average price of $201.60 and a 200 day moving average price of $192.03. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. Research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Paylocity Company 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.