Envestnet Asset Management Inc. boosted its stake in Paylocity Holding Corp (NASDAQ:PCTY) by 13.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,287 shares of the software maker’s stock after purchasing an additional 1,568 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Paylocity were worth $782,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Motley Fool Asset Management LLC acquired a new stake in Paylocity in the second quarter worth $2,354,000. Bank of Montreal Can grew its holdings in Paylocity by 16.4% in the second quarter. Bank of Montreal Can now owns 8,491 shares of the software maker’s stock worth $500,000 after purchasing an additional 1,198 shares during the period. Wasatch Advisors Inc. lifted its stake in shares of Paylocity by 0.6% in the second quarter. Wasatch Advisors Inc. now owns 1,737,373 shares of the software maker’s stock valued at $102,262,000 after buying an additional 10,116 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Paylocity by 12.9% in the second quarter. Rhumbline Advisers now owns 27,759 shares of the software maker’s stock valued at $1,634,000 after buying an additional 3,164 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Paylocity in the second quarter valued at $10,926,000. Institutional investors and hedge funds own 65.40% of the company’s stock.
A number of research analysts have weighed in on PCTY shares. Raymond James reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Paylocity in a research note on Monday, August 13th. Royal Bank of Canada dropped their price objective on shares of Paylocity from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday, August 10th. Jefferies Financial Group started coverage on shares of Paylocity in a research note on Monday, October 1st. They issued a “hold” rating and a $88.00 price objective on the stock. Zacks Investment Research lowered shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their price objective on shares of Paylocity from $59.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $69.71.
Shares of PCTY traded up $1.74 during trading hours on Friday, reaching $65.72. 197,213 shares of the stock traded hands, compared to its average volume of 278,047. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.08 and a quick ratio of 1.08. Paylocity Holding Corp has a 52 week low of $41.15 and a 52 week high of $88.47. The firm has a market capitalization of $4.24 billion, a P/E ratio of 212.00, a PEG ratio of 4.27 and a beta of 2.11.
Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, August 9th. The software maker reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Paylocity had a net margin of 10.22% and a return on equity of 12.44%. The firm had revenue of $96.62 million for the quarter, compared to the consensus estimate of $93.33 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, equities research analysts expect that Paylocity Holding Corp will post 0.75 earnings per share for the current year.
In other Paylocity news, Director Jeffrey T. Diehl sold 750,000 shares of Paylocity stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $65.75, for a total value of $49,312,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Edward W. Gaty sold 7,614 shares of Paylocity stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $78.90, for a total transaction of $600,744.60. Following the completion of the sale, the senior vice president now directly owns 126,392 shares in the company, valued at approximately $9,972,328.80. The disclosure for this sale can be found here. Insiders have sold 1,002,124 shares of company stock worth $65,904,551 over the last three months. 48.80% of the stock is owned by insiders.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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