CWA Asset Management Group LLC Grows Holdings in Paylocity Holding Corporation (NASDAQ:PCTY)

CWA Asset Management Group LLC boosted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 48.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,181 shares of the software maker's stock after acquiring an additional 2,981 shares during the quarter. CWA Asset Management Group LLC's holdings in Paylocity were worth $1,720,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Paylocity by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after purchasing an additional 46,183 shares in the last quarter. Invesco Ltd. increased its stake in Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after buying an additional 320,319 shares during the period. Geode Capital Management LLC lifted its holdings in Paylocity by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock worth $214,275,000 after buying an additional 25,182 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Paylocity by 0.8% during the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock worth $172,300,000 after buying an additional 7,251 shares in the last quarter. Finally, FMR LLC boosted its position in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after buying an additional 377,835 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Down 0.3%

PCTY stock traded down $0.52 during trading on Thursday, hitting $176.45. 657,442 shares of the company's stock were exchanged, compared to its average volume of 457,463. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 44.00, a PEG ratio of 3.61 and a beta of 0.53. Paylocity Holding Corporation has a 52-week low of $129.94 and a 52-week 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 business has a 50-day moving average price of $189.84 and a two-hundred day moving average price of $195.62.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The business had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. During the same quarter in the previous year, the firm earned $2.21 EPS. The company's revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts expect that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares of the company's stock, valued at $81,862,200. This represents a 5.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of recent research reports. Citigroup cut their price objective on Paylocity from $246.00 to $225.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Barclays boosted their target price on Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded Paylocity from a "hold" rating to a "buy" rating in a report on Monday, May 12th. BMO Capital Markets lifted their price objective on Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Piper Sandler reissued an "overweight" rating and set a $258.00 price objective (up from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Paylocity presently has an average rating of "Moderate Buy" and an average target price of $224.75.

About Paylocity

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.