Oppenheimer Asset Management Inc. Purchases 1,903 Shares of Paylocity Holding Corporation (NASDAQ:PCTY)

Oppenheimer Asset Management Inc. boosted its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,030 shares of the software maker's stock after buying an additional 1,903 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.10% of Paylocity worth $10,871,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Retirement Systems of Alabama boosted its stake in Paylocity by 0.4% in the first quarter. Retirement Systems of Alabama now owns 53,057 shares of the software maker's stock valued at $9,940,000 after buying an additional 186 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Paylocity by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 5,106 shares of the software maker's stock valued at $956,000 after purchasing an additional 145 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in shares of Paylocity by 48.1% during the first quarter. CWA Asset Management Group LLC now owns 9,181 shares of the software maker's stock worth $1,720,000 after purchasing an additional 2,981 shares during the last quarter. Chicago Capital LLC grew its holdings in shares of Paylocity by 1.4% during the first quarter. Chicago Capital LLC now owns 7,661 shares of the software maker's stock worth $1,435,000 after purchasing an additional 106 shares during the last quarter. Finally, Conestoga Capital Advisors LLC bought a new stake in shares of Paylocity during the first quarter worth about $20,106,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCTY has been the topic of several research reports. UBS Group boosted their price target on Paylocity from $195.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $250.00 price target on shares of Paylocity in a report on Friday, May 2nd. Raymond James Financial restated an "outperform" rating and set a $235.00 price target (down from $265.00) on shares of Paylocity in a report on Friday, May 2nd. JMP Securities restated a "market outperform" rating and set a $270.00 price target on shares of Paylocity in a report on Tuesday, April 29th. Finally, Barclays upped their target price on Paylocity from $204.00 to $209.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $224.75.

Paylocity Stock Up 2.7%

Shares of NASDAQ:PCTY traded up $4.82 during trading on Tuesday, reaching $182.62. 560,184 shares of the stock were exchanged, compared to its average volume of 454,856. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 1.13. Paylocity Holding Corporation has a 1-year low of $129.94 and a 1-year high of $223.80. The stock has a fifty day moving average of $189.21 and a two-hundred day moving average of $194.74. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 3.62 and a beta of 0.53.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $441.77 million. During the same period in the prior year, the firm earned $2.21 earnings per share. Paylocity's revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Paylocity 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.