Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP raised its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 11.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 144,567 shares of the software maker's stock after acquiring an additional 15,407 shares during the period. First Trust Advisors LP owned 0.26% of Paylocity worth $28,837,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity during the 4th quarter worth $29,000. UMB Bank n.a. increased 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 worth $49,000 after buying an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 worth $54,000 after buying an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC increased 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 worth $55,000 after buying an additional 63 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock worth $77,000 after buying an additional 116 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen dropped their price objective on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. UBS Group upped their price objective on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Citigroup dropped their price objective on Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a report on Tuesday. Piper Sandler reaffirmed an "overweight" rating and set a $254.00 price target (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Finally, KeyCorp decreased their price target on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $226.12.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the transaction, the director now directly owns 470,452 shares in the company, valued at $89,856,332. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 21.91% of the company's stock.

Paylocity Stock Up 1.3 %

NASDAQ:PCTY traded up $2.51 on Tuesday, reaching $192.33. The stock had a trading volume of 260,487 shares, compared to its average volume of 479,162. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $190.10 and a 200 day moving average of $195.91. The stock has a market cap of $10.75 billion, a P/E ratio of 49.32, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued 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%. On average, research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Paylocity Company 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.