Victory Capital Management Inc. Increases Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Victory Capital Management Inc. increased its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 32.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 158,013 shares of the software maker’s stock after buying an additional 38,453 shares during the quarter. Victory Capital Management Inc.’s holdings in Paylocity were worth $31,519,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PCTY. SBI Securities Co. Ltd. purchased a new position in shares of Paylocity in the fourth quarter valued at $29,000. Prospera Private Wealth LLC purchased a new position in shares of Paylocity in the third quarter valued at $39,000. UMB Bank n.a. grew its position in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. Quarry LP grew its position in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after purchasing an additional 63 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the completion of the sale, the director now owns 8,332,347 shares of the company’s stock, valued at approximately $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 42,876 shares of company stock valued at $8,671,491. Insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCTY. KeyCorp lifted their price objective on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Needham & Company LLC lifted their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JMP Securities lifted their price objective on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, TD Cowen dropped their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Trading Up 2.2 %

NASDAQ PCTY opened at $195.11 on Monday. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. 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 stock has a 50-day moving average of $203.18 and a 200-day moving average of $189.46. The firm has a market cap of $10.90 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last released its 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 net margin of 14.76% and a return on equity of 22.45%. As a group, sell-side analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Paylocity 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.