Envestnet Asset Management Inc. Has $26.06 Million Stake in Paylocity Holding Corporation $PCTY

Envestnet Asset Management Inc. lifted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,842 shares of the software maker’s stock after acquiring an additional 6,976 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Paylocity worth $26,063,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. TCTC Holdings LLC raised its position in Paylocity by 115.9% during the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. Hughes Financial Services LLC bought a new position in Paylocity during the 1st quarter worth $48,000. Bayforest Capital Ltd raised its position in Paylocity by 69.1% during the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker’s stock worth $55,000 after purchasing an additional 121 shares during the last quarter. SVB Wealth LLC bought a new position in Paylocity during the 1st quarter worth $61,000. Finally, IFP Advisors Inc raised its position in Paylocity by 248.5% during the 2nd quarter. IFP Advisors Inc now owns 338 shares of the software maker’s stock worth $61,000 after purchasing an additional 241 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paylocity in a research report on Wednesday, October 8th. Stephens initiated coverage on Paylocity in a research report on Monday, July 21st. They set an “equal weight” rating and a $200.00 target price for the company. KeyCorp raised their target price on Paylocity from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Jefferies Financial Group lowered their target price on Paylocity from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, Guggenheim began coverage on Paylocity in a research report on Thursday, September 25th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.38.

Paylocity Stock Performance

Shares of Paylocity stock opened at $140.81 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $160.75 and a two-hundred day moving average price of $176.86. Paylocity Holding Corporation has a 1-year low of $137.57 and a 1-year high of $223.80. The company has a market cap of $7.66 billion, a P/E ratio of 35.11, a PEG ratio of 2.72 and a beta of 0.58.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The firm had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. During the same period last year, the business posted $1.48 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. As a group, analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

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.