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

Envestnet Asset Management Inc. raised its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 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 period. Envestnet Asset Management Inc. owned approximately 0.24% of Paylocity worth $25,641,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Paylocity during the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its stake in Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after buying an additional 225 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the period. Johnson Financial Group Inc. acquired a new position in Paylocity during the 4th quarter valued at about $72,000. Finally, Huntington National Bank increased its stake in Paylocity by 37.3% during the 4th quarter. Huntington National Bank now owns 431 shares of the software maker's stock valued at $86,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 21.91% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PCTY. Jefferies Financial Group reduced their price objective on shares of Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. BMO Capital Markets raised their price objective on shares of Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays raised their price objective on shares of Paylocity from $204.00 to $209.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Stifel Nicolaus reduced their price objective on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.75.

Paylocity Stock Down 1.1%

Shares of PCTY stock traded down $2.13 during trading on Friday, hitting $185.81. 65,450 shares of the company were exchanged, compared to its average volume of 448,821. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 46.33, a P/E/G ratio of 3.58 and a beta of 0.50. The business's 50-day simple moving average is $187.28 and its 200 day simple moving average is $192.57. Paylocity Holding Corporation has a twelve month low of $138.74 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. The business had revenue of $454.55 million during 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 firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. As a group, analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal 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.