Ensign Peak Advisors Inc Has $24.73 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Ensign Peak Advisors Inc reduced its position in Paylocity Holding Co. (NASDAQ:PCTY) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 187,562 shares of the software maker’s stock after selling 6,031 shares during the period. Ensign Peak Advisors Inc owned 0.33% of Paylocity worth $24,730,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCTY. Rothschild Investment LLC acquired a new stake in shares of Paylocity in the 2nd quarter valued at $40,000. Principal Securities Inc. acquired a new stake in shares of Paylocity in the 4th quarter valued at $41,000. J.Safra Asset Management Corp grew its stake in shares of Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after purchasing an additional 108 shares during the period. GAMMA Investing LLC grew its stake in shares of Paylocity by 34.7% during the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after purchasing an additional 78 shares during the period. Finally, RiverPark Advisors LLC grew its stake in shares of Paylocity by 152.0% during the first quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after purchasing an additional 231 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their price objective on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Stifel Nicolaus decreased their price objective on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Truist Financial decreased their price objective on Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Citigroup decreased their price objective on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.13.

Paylocity Price Performance

Shares of Paylocity stock opened at $162.58 on Monday. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 47.26, a price-to-earnings-growth ratio of 3.80 and a beta of 0.94. The stock’s 50-day moving average is $154.14 and its 200-day moving average is $154.68. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $206.28.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. The company had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. On average, equities analysts expect that Paylocity Holding Co. will post 4.51 EPS for the current year.

Insider Buying and Selling

In related news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the sale, the chief executive officer now owns 1,745,022 shares in the company, valued at $248,979,738.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the sale, the chief executive officer now owns 1,745,022 shares in the company, valued at $248,979,738.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the transaction, the chief financial officer now directly owns 31,074 shares in the company, valued at approximately $4,352,224.44. The disclosure for this sale can be found here. 22.50% of the stock is currently owned by corporate insiders.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.