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

Victory Capital Management Inc. boosted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 32.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 158,013 shares of the software maker's stock after purchasing an additional 38,453 shares during the period. Victory Capital Management Inc. owned approximately 0.28% of Paylocity worth $31,519,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc increased its position 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 acquiring an additional 58 shares during the period. Steward Partners Investment Advisory LLC increased its holdings 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 during the period. UMB Bank n.a. raised its stake 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 worth $49,000 after purchasing an additional 72 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Paylocity by 6.4% during the third quarter. Covestor Ltd now owns 1,373 shares of the software maker's stock worth $227,000 after purchasing an additional 83 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Paylocity by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker's stock valued at $2,414,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

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Analyst Ratings Changes

PCTY has been the topic of several recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $254.00 price objective (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Barclays upped their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Raymond James reiterated an "outperform" rating and set a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and upped their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, Needham & Company LLC lifted their price target on Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Paylocity currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.25.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 10,621 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $200.86, for a total value of $2,133,334.06. Following the transaction, the director now directly owns 8,365,533 shares in the company, valued at $1,680,300,958.38. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 29,187 shares of company stock valued at $5,888,655. 21.91% of the stock is currently owned by insiders.

Paylocity Price Performance

PCTY traded down $3.32 on Thursday, hitting $183.21. 299,147 shares of the company's stock were exchanged, compared to its average volume of 489,141. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 46.98, a P/E/G ratio of 4.49 and a beta of 0.94. The firm has a 50-day moving average price of $202.45 and a 200-day moving average price of $189.90. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Paylocity Company 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.