Envestnet Asset Management Inc. Acquires 5,919 Shares of Paylocity Holding Corporation (NASDAQ:PCTY)

Envestnet Asset Management Inc. boosted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 136,866 shares of the software maker’s stock after buying an additional 5,919 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.24% of Paylocity worth $25,641,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock worth $1,916,000 after buying an additional 49 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Paylocity by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock worth $3,813,000 after buying an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after buying an additional 63 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Paylocity by 5.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock worth $326,000 after buying an additional 75 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Paylocity by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock worth $630,000 after buying an additional 77 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the sale, the senior vice president owned 11,953 shares of the company’s stock, valued at approximately $2,112,573.22. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

PCTY opened at $179.68 on Wednesday. Paylocity Holding Corporation has a 12-month low of $138.74 and a 12-month high of $223.80. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $9.92 billion, a PE ratio of 44.81, a P/E/G ratio of 3.52 and a beta of 0.50. The firm has a 50 day moving average of $187.42 and a two-hundred day moving average of $192.72.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.34. The business had revenue of $454.55 million for the quarter, compared to analysts’ expectations of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.21 EPS. On average, analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 price target on shares of Paylocity in a research note on Tuesday, April 29th. Citigroup reduced their target price on shares of Paylocity from $246.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Needham & Company LLC reissued a “buy” rating and issued a $250.00 target price on shares of Paylocity in a research note on Friday, May 2nd. Wall Street Zen raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $224.75.

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.