EverSource Wealth Advisors LLC Acquires 225 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

EverSource Wealth Advisors LLC raised its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 489.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 271 shares of the software maker’s stock after purchasing an additional 225 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Paylocity were worth $54,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Certuity LLC bought a new stake in shares of Paylocity during the fourth quarter worth $232,000. Edgestream Partners L.P. lifted its position in shares of Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after purchasing an additional 7,475 shares during the last quarter. Barclays PLC lifted its position in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after purchasing an additional 5,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paylocity by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after acquiring an additional 4,697 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PCTY. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Piper Sandler restated an “overweight” rating and issued a $254.00 price objective (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. KeyCorp lifted their price objective on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Raymond James restated an “outperform” rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Finally, Jefferies Financial Group lifted their price objective on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.25.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total value of $280,826.00. Following the sale, the director now owns 8,338,430 shares in the company, valued at $1,672,605,673.70. This represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 7,083 shares of company stock worth $1,420,041 over the last quarter. Insiders own 21.91% of the company’s stock.

Paylocity Price Performance

Shares of PCTY stock opened at $190.90 on Thursday. 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 market capitalization of $10.67 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50-day simple moving average is $201.50 and its 200-day simple moving average is $190.83.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share 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, equities analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

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.