Paylocity Holding Corporation (NASDAQ:PCTY) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 30.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,402 shares of the software maker’s stock after selling 1,484 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Paylocity were worth $637,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Paylocity in the 4th quarter valued at $29,000. Charles Schwab Investment Management Inc. boosted its stake in Paylocity by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,556 shares of the software maker’s stock worth $56,960,000 after purchasing an additional 3,130 shares during the last quarter. UMB Bank n.a. boosted its stake in Paylocity by 89.1% during the 1st quarter. UMB Bank n.a. now owns 467 shares of the software maker’s stock worth $87,000 after purchasing an additional 220 shares during the last quarter. Vanguard Group Inc. boosted its stake in Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock worth $803,745,000 after purchasing an additional 46,183 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Paylocity during the 4th quarter worth $246,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the transaction, the senior vice president now owns 11,953 shares of the company’s stock, valued at $2,112,573.22. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Trading Up 0.9%

Shares of PCTY stock opened at $177.16 on Friday. The company’s 50-day moving average price is $189.05 and its 200-day moving average price is $194.61. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 3.58 and a beta of 0.53. Paylocity Holding Corporation has a twelve month low of $129.94 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.34. The firm had revenue of $454.55 million for the quarter, compared to analysts’ expectations of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. During the same quarter in the previous year, the company posted $2.21 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PCTY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 target price on shares of Paylocity in a research note on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Jefferies Financial Group lowered their target price on shares of Paylocity from $255.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barclays lifted their target price on shares of Paylocity from $204.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, Citigroup lowered their target price on shares of Paylocity from $246.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.75.

Paylocity 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.