Public Employees Retirement System of Ohio boosted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 29.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,350 shares of the software maker’s stock after purchasing an additional 8,391 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.07% of Paylocity Holding Corporation worth $1,687,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State of Wisconsin Investment Board acquired a new stake in Paylocity Holding Corporation during the second quarter valued at approximately $3,660,000. Schwab Charles Investment Management Inc. lifted its stake in Paylocity Holding Corporation by 10.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 113,529 shares of the software maker’s stock valued at $5,130,000 after purchasing an additional 10,911 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Paylocity Holding Corporation during the second quarter valued at approximately $1,129,000. Bank of America Corp DE lifted its stake in Paylocity Holding Corporation by 13.4% during the first quarter. Bank of America Corp DE now owns 131,015 shares of the software maker’s stock valued at $5,062,000 after purchasing an additional 15,504 shares during the last quarter. Finally, Menta Capital LLC acquired a new stake in Paylocity Holding Corporation during the second quarter valued at approximately $1,270,000. 60.05% of the stock is owned by institutional investors and hedge funds.

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) opened at $50.31 on Monday. Paylocity Holding Corporation has a 12-month low of $29.69 and a 12-month high of $53.96. The stock has a market cap of $2,642.12, a P/E ratio of 228.68, a price-to-earnings-growth ratio of 6.85 and a beta of 2.24.

Paylocity Holding Corporation (NASDAQ:PCTY) last released its earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. Paylocity Holding Corporation had a net margin of 3.11% and a return on equity of 8.11%. The company had revenue of $81.50 million during the quarter, compared to the consensus estimate of $80.88 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s revenue was up 25.4% compared to the same quarter last year. sell-side analysts expect that Paylocity Holding Corporation will post 0.27 earnings per share for the current year.

Several analysts recently commented on the stock. SunTrust Banks, Inc. reissued a “hold” rating and set a $47.00 target price on shares of Paylocity Holding Corporation in a research note on Friday. Robert W. Baird increased their target price on shares of Paylocity Holding Corporation from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday. Bank of America Corporation increased their target price on shares of Paylocity Holding Corporation from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Mizuho reissued a “hold” rating and set a $45.00 target price on shares of Paylocity Holding Corporation in a research note on Thursday, October 12th. Finally, Northland Securities reissued a “buy” rating and set a $55.00 target price on shares of Paylocity Holding Corporation in a research note on Sunday, September 10th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $52.92.

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In other news, CEO Steven R. Beauchamp sold 24,530 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $50.24, for a total transaction of $1,232,387.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 5,470 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $50.09, for a total transaction of $273,992.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,563,715 shares of company stock valued at $70,723,858. Insiders own 48.80% of the company’s stock.

About Paylocity Holding Corporation

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 Holding Corporation (NASDAQ:PCTY)

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