Envestnet Portfolio Solutions Inc. Purchases 665 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Envestnet Portfolio Solutions Inc. raised its position in Paylocity Holding Co. (NASDAQ:PCTY) by 15.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,886 shares of the software maker’s stock after buying an additional 665 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Paylocity were worth $975,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Paylocity during the 4th quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares during the last quarter. Quarry LP grew its holdings in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after purchasing an additional 63 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCTY has been the topic of several research reports. TD Cowen decreased their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Stifel Nicolaus lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Raymond James reiterated an “outperform” rating and set a $265.00 target price (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Finally, Jefferies Financial Group lifted their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Stock Up 0.6 %

Paylocity stock opened at $191.91 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The firm’s fifty day moving average is $201.44 and its 200 day moving average is $191.46. The company has a market capitalization of $10.73 billion, a PE ratio of 49.21, a PEG ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. As a group, sell-side analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 3,083 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the sale, the director now owns 8,335,347 shares in the company, valued at approximately $1,673,154,203.31. The trade was a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 7,083 shares of company stock worth $1,420,041 in the last quarter. Company insiders own 21.91% of the company’s stock.

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.