Envestnet Portfolio Solutions Inc. Has $975,000 Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Envestnet Portfolio Solutions Inc. grew its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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.

Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its position in Paylocity by 29.9% in the fourth 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 in the last quarter. UMB Bank n.a. grew its position in Paylocity by 41.1% in the fourth 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 in the last quarter. PNC Financial Services Group Inc. grew its position in Paylocity by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock valued at $630,000 after purchasing an additional 77 shares in the last quarter. CIBC Asset Management Inc grew its position in Paylocity by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,745 shares of the software maker’s stock valued at $348,000 after purchasing an additional 93 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Paylocity by 5.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,940 shares of the software maker’s stock valued at $387,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

NASDAQ:PCTY opened at $191.91 on Monday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 49.21, a P/E/G ratio of 4.49 and a beta of 0.94. The firm’s 50-day simple moving average is $201.44 and its 200 day simple moving average is $191.46. 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 released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, sell-side analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the transaction, the director now directly owns 8,332,347 shares of the company’s stock, valued at approximately $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 7,083 shares of company stock valued at $1,420,041. 21.91% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on PCTY shares. Piper Sandler reiterated an “overweight” rating and issued a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Barclays increased their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Stifel Nicolaus increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and increased their price target for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, Raymond James reiterated an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Three 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

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.