Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,381 shares of the software maker's stock after buying an additional 10,321 shares during the quarter. Nuveen Asset Management LLC owned about 0.19% of Paylocity worth $20,821,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PCTY. SBI Securities Co. Ltd. purchased a new position in shares of Paylocity during the 4th quarter worth $29,000. UMB Bank n.a. boosted its holdings in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Paylocity during the fourth quarter worth $72,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Stock Down 1.5%

NASDAQ:PCTY traded down $2.90 during mid-day trading on Thursday, reaching $190.87. The stock had a trading volume of 52,041 shares, compared to its average volume of 433,925. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 48.94, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The stock's 50 day simple moving average is $189.63 and its two-hundred day simple moving average is $197.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

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 analysts' consensus estimates 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 22.45% and a net margin of 14.76%. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $2.21 earnings per share. Equities analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCTY. Jefferies Financial Group decreased their price objective on Paylocity from $255.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Stifel Nicolaus cut their target price on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Raymond James reaffirmed an "outperform" rating and issued a $235.00 target price (down from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. Finally, Scotiabank assumed coverage on Paylocity in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 target price on the stock. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $223.00.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the transaction, the director now directly owns 470,452 shares in the company, valued at $89,856,332. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.