Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in Paylocity Holding Co. (NASDAQ:PCTY) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,947 shares of the software maker’s stock after acquiring an additional 3,104 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Paylocity were worth $26,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares during the period. American Century Companies Inc. increased its holdings in Paylocity by 190.0% during the 4th quarter. American Century Companies Inc. now owns 349,797 shares of the software maker’s stock worth $69,774,000 after purchasing an additional 229,179 shares during the period. Trillium Asset Management LLC raised its position in Paylocity by 194.7% in the 4th quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker’s stock valued at $19,888,000 after purchasing an additional 65,869 shares in the last quarter. Norges Bank purchased a new position in shares of Paylocity in the 4th quarter valued at about $12,131,000. Finally, Vanguard Group Inc. grew its position in shares of Paylocity by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock worth $803,745,000 after buying an additional 46,183 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Price Performance

Shares of PCTY opened at $187.27 on Monday. The company has a market capitalization of $10.47 billion, a price-to-earnings ratio of 48.02, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The firm has a 50-day simple moving average of $196.14 and a 200-day simple moving average of $194.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PCTY. Barclays raised their target price on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Stifel Nicolaus boosted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. UBS Group raised their price target on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $233.25.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.91% of the stock is owned by insiders.

About Paylocity

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.