Paylocity Holding Corporation $PCTY Shares Purchased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC boosted its stake in Paylocity by 204.8%, adding 11,628 shares to hold 17,307 shares valued at about $2.65 million at quarter-end.
• Paylocity beat estimates with $1.85 EPS and revenue of $416.13M (up 10.4% YoY) in the most recent quarter, and analysts have a consensus rating of "Moderate Buy" with a target near $180.05.
• Shares opened around $105.18 (down 2.6%)—well below the 12‑month high of $201.97—and the stock is heavily institutionally owned (~94.8%).

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 204.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,307 shares of the software maker's stock after acquiring an additional 11,628 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Paylocity were worth $2,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Paylocity by 363.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker's stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Paylocity during the third quarter worth $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Paylocity during the third quarter worth $41,000. Allworth Financial LP grew its stake in shares of Paylocity by 88.0% in the third quarter. Allworth Financial LP now owns 282 shares of the software maker's stock valued at $45,000 after buying an additional 132 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Paylocity by 155.4% in the third quarter. True Wealth Design LLC now owns 286 shares of the software maker's stock valued at $46,000 after buying an additional 174 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Stock Down 2.6%

Shares of NASDAQ:PCTY opened at $105.18 on Thursday. The firm has a 50 day simple moving average of $115.95 and a 200-day simple moving average of $138.38. Paylocity Holding Corporation has a twelve month low of $100.50 and a twelve month high of $201.97. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $5.67 billion, a PE ratio of 24.75, a P/E/G ratio of 3.13 and a beta of 0.57.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The firm had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. During the same period last year, the business earned $1.52 EPS. Paylocity's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Cantor Fitzgerald restated an "overweight" rating on shares of Paylocity in a report on Thursday, January 29th. Mizuho cut their target price on shares of Paylocity from $180.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, February 6th. Robert W. Baird set a $220.00 target price on shares of Paylocity in a report on Friday, February 6th. BTIG Research decreased their price target on shares of Paylocity from $180.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, February 6th. Finally, Stifel Nicolaus decreased their target price on Paylocity from $188.00 to $165.00 and set a "buy" rating for the company in a report on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell 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 $180.05.

About Paylocity

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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