Evolve Private Wealth LLC Takes $501,000 Position in Paylocity Holding Corporation $PCTY

Evolve Private Wealth LLC acquired a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,789 shares of the software maker’s stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Landscape Capital Management L.L.C. bought a new stake in shares of Paylocity in the 2nd quarter valued at about $2,591,000. EP Wealth Advisors LLC bought a new position in Paylocity during the second quarter worth about $482,000. Ieq Capital LLC bought a new position in Paylocity during the second quarter worth about $20,119,000. Callan Family Office LLC bought a new position in Paylocity during the second quarter worth about $266,000. Finally, Allworth Financial LP acquired a new position in Paylocity during the second quarter worth approximately $338,000. 94.76% of the stock is owned by institutional investors.

Insider Transactions at Paylocity

In other news, SVP Joshua Scutt sold 4,730 shares of Paylocity stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.82, for a total transaction of $708,648.60. Following the completion of the sale, the senior vice president owned 75,729 shares of the company’s stock, valued at approximately $11,345,718.78. This trade represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Glenn sold 3,345 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $149.75, for a total transaction of $500,913.75. Following the completion of the sale, the chief financial officer directly owned 122,563 shares of the company’s stock, valued at approximately $18,353,809.25. The trade was a 2.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,300 shares of company stock worth $4,553,607 over the last quarter. 19.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Cantor Fitzgerald upped their price objective on Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $201.00 target price on Paylocity in a report on Wednesday, August 5th. Citigroup reissued a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. BTIG Research increased their price target on Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Stephens cut their price target on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price of $160.53.

Paylocity Price Performance

Paylocity stock opened at $152.24 on Wednesday. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 30.76 and a beta of 0.47. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $181.97. The stock’s 50 day moving average is $128.01 and its 200-day moving average is $115.47.

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

Paylocity Company 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.