Trillium Asset Management LLC Has $19.68 Million Stock Position in Paylocity Holding Corporation (NASDAQ:PCTY)

Key Points

• Trillium Asset Management LLC increased its holdings in Paylocity Holding Corporation by 5.3%, acquiring 5,322 additional shares during the first quarter, bringing its total ownership to 105,028 shares valued at approximately $19.68 million.
• Paylocity's quarterly earnings report showed an EPS of $1.56, exceeding analyst expectations, with revenue reaching $400.74 million, reflecting a year-over-year growth of 12.2%.
• Analysts have issued various ratings for Paylocity, with a current average rating of "Moderate Buy" and a target price around $223.19.

Trillium Asset Management LLC raised its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,028 shares of the software maker's stock after buying an additional 5,322 shares during the period. Trillium Asset Management LLC owned approximately 0.19% of Paylocity worth $19,676,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PCTY. TCTC Holdings LLC raised its position in shares of Paylocity by 115.9% during the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after purchasing an additional 80 shares during the period. USA Financial Formulas purchased a new position in Paylocity in the 1st quarter worth about $29,000. Hughes Financial Services LLC acquired a new stake in Paylocity during the 1st quarter worth about $48,000. Bayforest Capital Ltd lifted its stake in Paylocity by 69.1% during the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after buying an additional 121 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Paylocity in the fourth quarter worth approximately $72,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Trading Down 1.2%

Shares of PCTY stock traded down $2.09 on Thursday, reaching $171.64. The company had a trading volume of 647,514 shares, compared to its average volume of 484,010. 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 market cap of $9.47 billion, a PE ratio of 42.80, a PEG ratio of 3.38 and a beta of 0.54. The company has a 50-day moving average of $181.85 and a 200-day moving average of $190.43. Paylocity Holding Corporation has a 12 month low of $150.87 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. The company had revenue of $400.74 million during the quarter, compared to analysts' expectations of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%. Paylocity's revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 EPS. On average, equities analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Activity at Paylocity

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 stock was 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 directly owned 11,953 shares in the company, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $250.00 target price on shares of Paylocity in a research note on Friday, July 18th. Stephens initiated coverage on Paylocity in a research note on Monday, July 21st. They issued an "equal weight" rating and a $200.00 target price for the company. Raymond James Financial set a $220.00 price target on shares of Paylocity and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Stifel Nicolaus lowered their price objective on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Scotiabank assumed coverage on shares of Paylocity in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price objective for the company. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and an average target price 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.