Envestnet Portfolio Solutions Inc. Cuts Position in Paylocity Holding Corporation (NASDAQ:PCTY)

Envestnet Portfolio Solutions Inc. decreased its position in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 30.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,402 shares of the software maker's stock after selling 1,484 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Paylocity were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Paylocity during the 4th quarter valued at about $29,000. USA Financial Formulas purchased a new position in Paylocity in the first quarter worth about $29,000. EverSource Wealth Advisors LLC increased its stake in Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after acquiring an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position 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 during the period. Finally, Johnson Financial Group Inc. purchased a new stake in Paylocity during the fourth quarter valued at approximately $72,000. Institutional investors own 94.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PCTY shares. Jefferies Financial Group dropped their target price on Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Barclays raised their price target on Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and set a $270.00 price objective on shares of Paylocity in a research report on Tuesday, April 29th. UBS Group increased their target price on shares of Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $250.00 target price on shares of Paylocity in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $224.75.

Paylocity Trading Up 0.9%

Shares of Paylocity stock traded up $1.63 on Monday, hitting $181.19. 430,455 shares of the company traded hands, compared to its average volume of 455,243. 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 company has a market cap of $10.01 billion, a PE ratio of 45.18, a PEG ratio of 3.66 and a beta of 0.53. The stock's 50 day moving average price is $188.86 and its 200-day moving average price is $193.99. Paylocity Holding Corporation has a 52 week low of $129.94 and a 52 week high of $223.80.

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

Insider Transactions at Paylocity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the completion of the sale, the senior vice president owned 11,953 shares in the company, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.91% of the stock is currently owned by insiders.

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.