Guggenheim Capital LLC Purchases 1,175 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Guggenheim Capital LLC raised its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 46.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,706 shares of the software maker’s stock after purchasing an additional 1,175 shares during the quarter. Guggenheim Capital LLC’s holdings in Paylocity were worth $737,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. EMC Capital Management bought a new stake in shares of Paylocity during the 4th quarter valued at about $29,000. Belpointe Asset Management LLC purchased a new position in shares of Paylocity during the 4th quarter valued at about $33,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Paylocity during the 4th quarter valued at about $44,000. Clearstead Advisors LLC lifted its position in shares of Paylocity by 872.4% during the 1st quarter. Clearstead Advisors LLC now owns 282 shares of the software maker’s stock valued at $56,000 after buying an additional 253 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Paylocity by 88.1% during the 1st quarter. Covestor Ltd now owns 331 shares of the software maker’s stock valued at $68,000 after buying an additional 155 shares in the last quarter. 73.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PCTY shares. Barclays lifted their price objective on Paylocity from $204.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. Credit Suisse Group reissued a “neutral” rating and issued a $215.00 price target on shares of Paylocity in a report on Friday, August 4th. Piper Sandler boosted their price target on Paylocity from $245.00 to $249.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. StockNews.com assumed coverage on Paylocity in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets boosted their price target on Paylocity from $230.00 to $246.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.79.

Paylocity Price Performance

Shares of PCTY opened at $202.66 on Wednesday. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 81.06 and a beta of 1.09. Paylocity Holding Co. has a 1 year low of $160.00 and a 1 year high of $269.34. The business’s 50 day simple moving average is $204.01 and its 200-day simple moving average is $191.48.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, August 3rd. The software maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.15. The firm had revenue of $308.45 million for the quarter, compared to the consensus estimate of $301.43 million. Paylocity had a return on equity of 21.89% and a net margin of 11.99%. On average, sell-side analysts expect that Paylocity Holding Co. will post 3.45 earnings per share for the current year.

Insider Activity

In other news, Director Bernard Robinson Kenneth sold 275 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $202.11, for a total transaction of $55,580.25. Following the transaction, the director now owns 3,031 shares of the company’s stock, valued at approximately $612,595.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Paylocity news, CAO Nicholas Rost sold 430 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $194.99, for a total value of $83,845.70. Following the transaction, the chief accounting officer now owns 5,590 shares of the company’s stock, valued at approximately $1,089,994.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard Robinson Kenneth sold 275 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $202.11, for a total value of $55,580.25. Following the completion of the transaction, the director now directly owns 3,031 shares in the company, valued at approximately $612,595.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,107 shares of company stock valued at $34,650,603. 26.50% of the stock is currently owned by insiders.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.