Park Avenue Securities LLC Purchases 2,167 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Park Avenue Securities LLC lifted its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 63.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,590 shares of the software maker's stock after purchasing an additional 2,167 shares during the quarter. Park Avenue Securities LLC's holdings in Paylocity were worth $1,115,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its holdings in shares of Paylocity by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker's stock valued at $273,000 after buying an additional 58 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Paylocity by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker's stock worth $395,000 after acquiring an additional 82 shares in the last quarter. Covestor Ltd lifted its stake in Paylocity by 6.4% in the third quarter. Covestor Ltd now owns 1,373 shares of the software maker's stock valued at $227,000 after acquiring an additional 83 shares during the last quarter. King Luther Capital Management Corp grew its position in shares of Paylocity by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker's stock valued at $1,316,000 after acquiring an additional 103 shares during the period. Finally, GAMMA Investing LLC increased its stake 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 purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PCTY. Barclays raised their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Mizuho increased their price target on Paylocity from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. KeyCorp lifted their price objective on shares of Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $210.64.

Paylocity Price Performance

Shares of NASDAQ PCTY traded up $0.24 during midday trading on Tuesday, reaching $197.24. The company's stock had a trading volume of 611,604 shares, compared to its average volume of 468,108. The company has a market cap of $11.00 billion, a P/E ratio of 50.45, a P/E/G ratio of 4.82 and a beta of 0.93. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The business's 50 day moving average price is $201.19 and its two-hundred day moving average price is $175.38.

Insider Activity

In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total value of $5,819,059.30. Following the sale, the director now owns 11,755 shares of the company's stock, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 2,600 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were 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 directly owns 8,332,347 shares in the company, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,486 shares of company stock worth $31,751,368. 21.91% of the stock is currently 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.