Nuveen Asset Management LLC Boosts Position in Paylocity Holding Co. (NASDAQ:PCTY)

Nuveen Asset Management LLC boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,381 shares of the software maker's stock after purchasing 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 quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock valued at $803,745,000 after purchasing an additional 46,183 shares during the last quarter. Invesco Ltd. raised its position in shares of Paylocity by 31.7% during the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after buying an additional 320,319 shares during the last quarter. Geode Capital Management LLC increased its stake in Paylocity by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock valued at $214,275,000 after acquiring an additional 25,182 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Paylocity by 0.8% during the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock valued at $172,300,000 after acquiring an additional 7,251 shares in the last quarter. Finally, FMR LLC boosted its stake in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after buying an additional 377,835 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Buying and Selling

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 transaction, the director now directly owns 470,452 shares of the company's stock, valued at $89,856,332. The trade was a 4.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.91% of the stock is owned by corporate insiders.

Paylocity Stock Performance

PCTY stock traded down $3.52 during midday trading on Wednesday, hitting $193.92. The company's stock had a trading volume of 123,525 shares, compared to its average volume of 459,914. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The stock's 50-day moving average price is $189.60 and its 200 day moving average price is $197.63. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 49.69, a PEG ratio of 4.49 and a beta of 0.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. The firm had revenue of $454.55 million during the quarter, compared to analysts' expectations 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 in the prior year, the business earned $2.21 EPS. On average, equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler restated an "overweight" rating and issued a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Mizuho dropped their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus reduced their price objective on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. KeyCorp cut their price target on Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Scotiabank assumed coverage on shares of Paylocity in a report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and a consensus target price of $223.00.

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.