Natixis Advisors LLC Buys 7,925 Shares of Paylocity Holding Corporation (NASDAQ:PCTY)

Key Points

• Natixis Advisors LLC increased its stake in Paylocity Holding Corporation by 72.3%, now owning a total of 18,889 shares valued at approximately $3.54 million.
• Insider trading activity saw SVP Andrew Cappotelli selling 1,717 shares at an average price of $176.74, representing a 12.56% decrease in his ownership of the stock.
• Analysts set a new price target for Paylocity with the consensus rating of "Moderate Buy" and an average target price of $223.19, reflecting positive growth expectations.

Natixis Advisors LLC increased its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 72.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,889 shares of the software maker's stock after purchasing an additional 7,925 shares during the quarter. Natixis Advisors LLC's holdings in Paylocity were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PCTY. LPL Financial LLC grew its stake in shares of Paylocity by 22.5% in the fourth quarter. LPL Financial LLC now owns 19,107 shares of the software maker's stock worth $3,780,000 after purchasing an additional 3,515 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Paylocity by 17.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,440 shares of the software maker's stock worth $287,000 after buying an additional 215 shares during the period. Franklin Resources Inc. lifted its holdings in Paylocity by 11.4% in the fourth quarter. Franklin Resources Inc. now owns 1,710 shares of the software maker's stock worth $341,000 after buying an additional 175 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Paylocity by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 130,947 shares of the software maker's stock worth $26,120,000 after buying an additional 3,104 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Paylocity by 7.1% in the fourth quarter. Russell Investments Group Ltd. now owns 34,625 shares of the software maker's stock worth $6,907,000 after buying an additional 2,308 shares during the period. 94.76% of the stock is owned by institutional investors.

Paylocity Stock Down 3.7%

Shares of PCTY traded down $6.75 on Friday, hitting $176.94. 661,959 shares of the stock traded hands, compared to its average volume of 533,513. The company has a market capitalization of $9.76 billion, a PE ratio of 44.12, a P/E/G ratio of 3.50 and a beta of 0.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.14. The business has a 50 day simple moving average of $183.48 and a 200 day simple moving average of $191.25. Paylocity Holding Corporation has a one year low of $146.02 and a one year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.18. The company had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The firm's quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. As a group, equities analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction that occurred on 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 of the company's stock, 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 is accessible through this hyperlink. 21.91% of the stock is owned by company insiders.

Analysts Set New Price Targets

PCTY has been the subject of several research analyst reports. Raymond James Financial set a $220.00 price objective on shares of Paylocity and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Jefferies Financial Group lowered their price objective on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday. BMO Capital Markets raised their price objective on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday. KeyCorp raised their price objective on shares of Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Scotiabank initiated coverage on shares of Paylocity in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $223.19.

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.