Charles Schwab Investment Management Inc. Has $55.75 Million Stock Holdings in Paylocity Holding Corporation $PCTY

Key Points

• Charles Schwab Investment Management Inc. has increased its holdings in Paylocity by 4.2%, now owning 297,558 shares valued at approximately $55.7 million.
• Vanguard Group also boosted its position by 7.0% in the first quarter, now holding over 4.3 million shares worth around $808 million.
• Paylocity reported a quarterly earnings per share (EPS) of $1.56, exceeding expectations, with revenue of $400.74 million, up 12.2% year-on-year.

Charles Schwab Investment Management Inc. grew its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 4.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 297,558 shares of the software maker's stock after acquiring an additional 12,002 shares during the period. Charles Schwab Investment Management Inc. owned about 0.54% of Paylocity worth $55,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Paylocity by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock valued at $807,966,000 after purchasing an additional 283,430 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Paylocity by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 487,662 shares of the software maker's stock valued at $97,276,000 after purchasing an additional 41,955 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Paylocity by 4.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 487,593 shares of the software maker's stock valued at $97,260,000 after purchasing an additional 22,655 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Paylocity by 22.4% in the fourth quarter. Northern Trust Corp now owns 461,217 shares of the software maker's stock valued at $91,999,000 after purchasing an additional 84,254 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Paylocity by 34.5% in the fourth quarter. Point72 Asset Management L.P. now owns 416,531 shares of the software maker's stock valued at $83,085,000 after purchasing an additional 106,770 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Stock Performance

PCTY stock traded up $6.22 during trading on Monday, reaching $178.18. 645,456 shares of the stock were exchanged, compared to its average volume of 485,119. Paylocity Holding Corporation has a twelve month low of $150.87 and a twelve month high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $181.40 and a 200-day simple moving average of $190.00. The company has a market capitalization of $9.83 billion, a P/E ratio of 44.43, a price-to-earnings-growth ratio of 3.40 and a beta of 0.54.

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

Insider Activity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the business'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 value of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares in the company, valued at $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 available at the SEC website. Company insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PCTY shares. Cantor Fitzgerald started coverage on Paylocity in a report on Thursday. They issued an "overweight" rating and a $215.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $250.00 price target on shares of Paylocity in a research note on Friday, July 18th. BMO Capital Markets upped their price target on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $270.00 price target on shares of Paylocity in a research note on Tuesday, April 29th. Finally, Raymond James Financial set a $220.00 price target on shares of Paylocity and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Four 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $222.71.

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.