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

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

Several other institutional investors have also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in Paylocity during the 4th quarter worth approximately $29,000. Prospera Private Wealth LLC bought a new stake in Paylocity during the 3rd quarter worth approximately $39,000. UMB Bank n.a. raised its stake in 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 acquiring an additional 72 shares during the period. Quarry LP raised its stake in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in 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 acquiring an additional 63 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 0.5 %

PCTY stock opened at $190.90 on Thursday. The firm has a fifty day moving average price of $201.50 and a 200 day moving average price of $190.83. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. 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 firm has a market cap of $10.67 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Sell-side analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. UBS Group increased their price objective on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and increased their price objective for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $235.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 3,083 shares of Paylocity stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the transaction, the director now directly owns 8,335,347 shares of the company’s stock, valued at $1,673,154,203.31. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 7,083 shares of company stock valued at $1,420,041 over the last three months. 21.91% of the stock is owned by company insiders.

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.