Zions Bancorporation National Association UT Acquires Shares of 13,932 Paylocity Holding Corporation (NASDAQ:PCTY)

Key Points

• Zions Bancorporation acquired 13,932 shares of Paylocity Holding Corporation for about $2.61 million in Q1, as reported in its latest 13F filing.
• Paylocity's recent earnings report showed an EPS of $1.56, which surpassed analysts' expectations, with revenue increasing by 12.2% year-over-year.
• Currently, 94.76% of Paylocity's stock is owned by institutional investors, highlighting significant investor interest in the company.

Zions Bancorporation National Association UT purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,932 shares of the software maker's stock, valued at approximately $2,610,000.

A number of other large investors have also recently bought and sold shares of PCTY. LPL Financial LLC grew its position in Paylocity by 22.5% in the fourth quarter. LPL Financial LLC now owns 19,107 shares of the software maker's stock valued at $3,780,000 after acquiring an additional 3,515 shares during the period. O Shaughnessy Asset Management LLC grew its position in Paylocity by 17.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,440 shares of the software maker's stock valued at $287,000 after acquiring an additional 215 shares during the period. Franklin Resources Inc. grew its position in Paylocity by 11.4% in the fourth quarter. Franklin Resources Inc. now owns 1,710 shares of the software maker's stock valued at $341,000 after acquiring an additional 175 shares during the period. Envestnet Asset Management Inc. grew its position in Paylocity by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 130,947 shares of the software maker's stock valued at $26,120,000 after acquiring an additional 3,104 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Paylocity by 7.1% in the fourth quarter. Russell Investments Group Ltd. now owns 34,625 shares of the software maker's stock valued at $6,907,000 after acquiring an additional 2,308 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Paylocity Stock Up 0.7%

Shares of NASDAQ PCTY traded up $1.15 during mid-day trading on Wednesday, reaching $171.84. 267,184 shares of the company's stock were exchanged, compared to its average volume of 480,831. 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 firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 42.87, a PEG ratio of 3.41 and a beta of 0.54. Paylocity Holding Corporation has a twelve month low of $148.03 and a twelve month high of $223.80. The business has a fifty day simple moving average of $182.71 and a 200 day simple moving average of $190.78.

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

Analyst Ratings Changes

Several analysts have recently commented on the company. Needham & Company LLC restated a "buy" rating and set a $250.00 target price on shares of Paylocity in a report on Friday, July 18th. Wall Street Zen upgraded Paylocity from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Raymond James Financial set a $220.00 target price on Paylocity and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Scotiabank started coverage on Paylocity in a report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 target price on the stock. Finally, Jefferies Financial Group cut their price target on Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and a consensus target price of $223.19.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the firm'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 $2,112,573.22. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.91% of the stock is currently owned by corporate insiders.

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.