California Public Employees Retirement System lifted its stake in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 29.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,344 shares of the software maker’s stock after acquiring an additional 10,506 shares during the quarter. California Public Employees Retirement System owned approximately 0.09% of Paylocity worth $2,728,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Motley Fool Asset Management LLC purchased a new position in shares of Paylocity during the second quarter worth approximately $2,354,000. AMP Capital Investors Ltd purchased a new position in shares of Paylocity during the second quarter worth approximately $288,000. Ardsley Advisory Partners purchased a new position in shares of Paylocity during the second quarter worth approximately $853,000. Clearfield Capital Management LP purchased a new position in shares of Paylocity during the second quarter worth approximately $6,510,000. Finally, Sterling Capital Management LLC purchased a new position in shares of Paylocity during the second quarter worth approximately $1,230,000. 65.32% of the stock is currently owned by institutional investors and hedge funds.
PCTY has been the topic of several research reports. BidaskClub lowered shares of Paylocity from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Guggenheim initiated coverage on shares of Paylocity in a report on Monday, August 20th. They set a “buy” rating and a $80.00 price objective on the stock. Zacks Investment Research raised shares of Paylocity from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Tuesday, August 14th. Raymond James reissued a “buy” rating and set a $75.00 price objective on shares of Paylocity in a report on Monday, August 13th. Finally, Needham & Company LLC lifted their price objective on shares of Paylocity from $65.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.71.
Shares of PCTY stock opened at $62.16 on Friday. The company has a market cap of $3.46 billion, a P/E ratio of 200.52, a price-to-earnings-growth ratio of 3.80 and a beta of 2.11. Paylocity Holding Corp has a 52-week low of $41.15 and a 52-week high of $88.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.08 and a current ratio of 1.08.
Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 9th. The software maker reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The firm had revenue of $96.62 million during the quarter, compared to analyst estimates of $93.33 million. Paylocity had a net margin of 10.22% and a return on equity of 12.44%. Paylocity’s revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. Sell-side analysts anticipate that Paylocity Holding Corp will post 0.77 earnings per share for the current fiscal year.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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