Paylocity Holding Corporation (NASDAQ:PCTY) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,866 shares of the software maker's stock after acquiring an additional 5,919 shares during the quarter. Envestnet Asset Management Inc. owned 0.24% of Paylocity worth $25,641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its holdings in Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after purchasing an additional 63 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Paylocity in the fourth quarter worth $2,467,000. Raymond James Financial Inc. bought a new stake in Paylocity in the fourth quarter worth $6,818,000. PNC Financial Services Group Inc. increased its position in Paylocity by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker's stock valued at $630,000 after acquiring an additional 77 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in Paylocity by 3.7% during the fourth quarter. HighTower Advisors LLC now owns 4,764 shares of the software maker's stock valued at $950,000 after acquiring an additional 172 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total value of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares in the company, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.91% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of research analyst reports. Barclays upped their price target on shares of Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. KeyCorp dropped their target price on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Raymond James Financial reissued an "outperform" rating and set a $235.00 price target (down from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. BMO Capital Markets increased 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. Finally, Wall Street Zen upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and an average price target of $224.75.

Paylocity Stock Down 0.8%

Shares of Paylocity stock traded down $1.56 on Friday, reaching $186.38. 410,980 shares of the company were exchanged, compared to its average volume of 449,830. The stock's 50 day moving average price is $187.12 and its 200-day moving average price is $192.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $10.29 billion, a P/E ratio of 46.48, a price-to-earnings-growth ratio of 3.69 and a beta of 0.50. Paylocity Holding Corporation has a 1-year low of $138.74 and a 1-year high of $223.80.

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

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.