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

Oppenheimer Asset Management Inc. grew its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,030 shares of the software maker's stock after purchasing an additional 1,903 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.10% of Paylocity worth $10,871,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PCTY. Vanguard Group Inc. grew its stake in shares of Paylocity by 1.2% during the fourth 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. lifted its holdings in Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after buying an additional 320,319 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Paylocity by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock worth $214,275,000 after buying an additional 25,182 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Paylocity by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock valued at $172,300,000 after buying an additional 7,251 shares during the last quarter. Finally, FMR LLC increased its stake in shares of 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 during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Trading Up 1.4%

NASDAQ:PCTY traded up $2.40 on Friday, reaching $179.56. The company's stock had a trading volume of 545,189 shares, compared to its average volume of 456,847. The firm has a market cap of $9.92 billion, a PE ratio of 44.78, a PEG ratio of 3.58 and a beta of 0.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.13. The business's 50-day moving average price is $188.91 and its two-hundred day moving average price is $194.42. Paylocity Holding Corporation has a 1-year low of $129.94 and a 1-year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. During the same period in the previous year, the firm earned $2.21 EPS. Paylocity's quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the transaction, the senior vice president now directly owns 11,953 shares of the company's stock, valued at $2,112,573.22. This trade represents a 12.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group decreased their price target on Paylocity from $255.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Scotiabank started coverage on shares of Paylocity in a research note on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price target for the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $235.00 price objective (down from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Stifel Nicolaus lowered their target price on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen raised Paylocity from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $224.75.

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.