EP Wealth Advisors LLC Acquires New Position in Paylocity Holding Corporation $PCTY

EP Wealth Advisors LLC acquired a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,615 shares of the software maker’s stock, valued at approximately $482,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Paylocity by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock worth $25,551,000 after purchasing an additional 7,594 shares during the last quarter. Focus Partners Wealth increased its position in Paylocity by 24.5% in the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after buying an additional 269 shares during the period. EverSource Wealth Advisors LLC increased its position in Paylocity by 537.0% in the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after buying an additional 392 shares during the period. Marshall Wace LLP increased its position in Paylocity by 2,782.7% in the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after buying an additional 34,450 shares during the period. Finally, Cerity Partners LLC lifted its stake in Paylocity by 10.0% in the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock valued at $3,486,000 after buying an additional 1,749 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $152.24 on Wednesday. The stock has a market cap of $8.08 billion, a P/E ratio of 30.76 and a beta of 0.47. The firm’s 50-day simple moving average is $128.01 and its 200 day simple moving average is $115.47. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $181.97. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. Paylocity’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 EPS. Equities analysts expect that Paylocity Holding Corporation will post 6.86 EPS for the current year.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 8,539 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $150.20, for a total value of $1,282,557.80. Following the completion of the sale, the director directly owned 4,480,055 shares in the company, valued at $672,904,261. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joshua Scutt sold 4,730 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $149.82, for a total value of $708,648.60. Following the transaction, the senior vice president directly owned 75,729 shares of the company’s stock, valued at approximately $11,345,718.78. The trade was a 5.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 30,300 shares of company stock valued at $4,553,607. 19.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on PCTY shares. UBS Group upped their price target on shares of Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. BMO Capital Markets lifted their price objective on shares of Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Stephens reduced their target price on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Raymond James Financial set a $140.00 target price on shares of Paylocity in a research report on Friday, May 8th. Finally, Citigroup restated a “buy” rating on shares of Paylocity in a research note on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.53.

Paylocity Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.