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

Victory Capital Management Inc. raised its stake in Paylocity Holding Co. (NASDAQ:PCTYGet Rating) by 10.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 80,315 shares of the software maker’s stock after buying an additional 7,348 shares during the quarter. Victory Capital Management Inc.’s holdings in Paylocity were worth $16,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Paylocity by 101.7% in the first quarter. Parallel Advisors LLC now owns 121 shares of the software maker’s stock worth $25,000 after purchasing an additional 61 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Paylocity by 1,730.0% in the first quarter. Signaturefd LLC now owns 183 shares of the software maker’s stock valued at $38,000 after acquiring an additional 173 shares in the last quarter. Covestor Ltd bought a new position in shares of Paylocity in the fourth quarter valued at approximately $42,000. Masso Torrence Wealth Management Inc. bought a new position in shares of Paylocity in the fourth quarter valued at approximately $45,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Paylocity by 26.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 260 shares of the software maker’s stock valued at $54,000 after acquiring an additional 54 shares in the last quarter. 69.01% of the stock is owned by hedge funds and other institutional investors.

Paylocity Price Performance

NASDAQ:PCTY opened at $255.26 on Friday. Paylocity Holding Co. has a 1 year low of $152.01 and a 1 year high of $314.49. The company has a market cap of $14.07 billion, a P/E ratio of 164.68 and a beta of 1.27. The stock’s fifty day moving average price is $185.12 and its two-hundred day moving average price is $191.38.

Paylocity (NASDAQ:PCTYGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.28. Paylocity had a return on equity of 17.32% and a net margin of 11.06%. The company had revenue of $228.95 million for the quarter, compared to the consensus estimate of $217.96 million. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue was up 36.7% compared to the same quarter last year. On average, analysts expect that Paylocity Holding Co. will post 1.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PCTY shares. Cowen upped their target price on Paylocity from $240.00 to $265.00 in a report on Friday. Cowen upped their target price on Paylocity from $240.00 to $265.00 in a report on Friday. Robert W. Baird upped their target price on Paylocity from $274.00 to $305.00 and gave the company an “outperform” rating in a report on Friday. Mizuho upped their target price on Paylocity from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday. Finally, Jefferies Financial Group reduced their price objective on Paylocity from $255.00 to $200.00 in a report on Monday, May 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $264.38.

Insider Buying and Selling

In related news, CFO Ryan Glenn sold 1,500 shares of the stock in a transaction on Friday, July 8th. The stock was sold at an average price of $200.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 16,910 shares in the company, valued at $3,382,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Steven R. Beauchamp sold 49,658 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $200.00, for a total transaction of $9,931,600.00. Following the transaction, the chief executive officer now directly owns 1,780,014 shares of the company’s stock, valued at $356,002,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ryan Glenn sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $200.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 16,910 shares in the company, valued at $3,382,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,443 shares of company stock worth $24,884,062. Corporate insiders own 28.80% of the company’s stock.

About Paylocity

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Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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