California State Teachers Retirement System lessened its holdings in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,616 shares of the software maker’s stock after selling 4,455 shares during the period. California State Teachers Retirement System’s holdings in Paylocity were worth $2,032,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PCTY. Schwab Charles Investment Management Inc. boosted its holdings in shares of Paylocity by 10.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 113,529 shares of the software maker’s stock valued at $5,130,000 after buying an additional 10,911 shares in the last quarter. First Trust Advisors LP bought a new position in Paylocity in the 2nd quarter worth about $1,076,000. Rhumbline Advisers boosted its stake in Paylocity by 16.5% in the 2nd quarter. Rhumbline Advisers now owns 28,825 shares of the software maker’s stock worth $1,302,000 after purchasing an additional 4,090 shares in the last quarter. Legal & General Group Plc boosted its stake in Paylocity by 13.1% in the 2nd quarter. Legal & General Group Plc now owns 7,726 shares of the software maker’s stock worth $349,000 after purchasing an additional 895 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Paylocity by 562.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock worth $149,000 after purchasing an additional 2,796 shares in the last quarter. Hedge funds and other institutional investors own 59.78% of the company’s stock.

Paylocity Holding Corp (NASDAQ:PCTY) opened at $48.75 on Wednesday. The stock has a market cap of $2,560.00, a PE ratio of 270.83, a price-to-earnings-growth ratio of 6.51 and a beta of 2.11. Paylocity Holding Corp has a one year low of $29.69 and a one year high of $53.96.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The business had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $80.88 million. Paylocity had a net margin of 3.11% and a return on equity of 7.98%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. equities analysts forecast that Paylocity Holding Corp will post 0.33 earnings per share for the current year.

A number of brokerages recently issued reports on PCTY. Zacks Investment Research cut shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. BidaskClub cut shares of Paylocity from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. SunTrust Banks reiterated a “hold” rating and issued a $47.00 price target on shares of Paylocity in a research note on Friday, November 3rd. Mizuho reiterated a “hold” rating and issued a $45.00 price target on shares of Paylocity in a research note on Thursday, October 12th. Finally, TheStreet upgraded shares of Paylocity from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Paylocity presently has an average rating of “Hold” and an average price target of $52.92.

In other Paylocity news, insider Michael R. Haske sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $47.02, for a total transaction of $1,175,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven R. Beauchamp sold 50,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $46.63, for a total transaction of $2,331,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,376,204 shares of company stock worth $63,542,933 in the last 90 days. Company insiders own 48.80% of the company’s stock.

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About Paylocity

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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