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

Victory Capital Management Inc. increased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 297.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,560 shares of the software maker’s stock after buying an additional 89,487 shares during the period. Victory Capital Management Inc. owned about 0.21% of Paylocity worth $19,724,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Paylocity by 16,397.9% during the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after purchasing an additional 7,707 shares in the last quarter. Cetera Advisors LLC bought a new stake in Paylocity during the first quarter valued at about $729,000. Price T Rowe Associates Inc. MD boosted its position in Paylocity by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares in the last quarter. Capital Research Global Investors bought a new stake in Paylocity during the first quarter valued at about $46,902,000. Finally, Plato Investment Management Ltd boosted its position in Paylocity by 4,853.3% during the first quarter. Plato Investment Management Ltd now owns 3,715 shares of the software maker’s stock valued at $638,000 after purchasing an additional 3,640 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PCTY. Mizuho raised their price target on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Needham & Company LLC raised their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a report on Monday, August 5th. Finally, KeyCorp raised their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Insider Activity at Paylocity

In other news, CFO Ryan Glenn sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total value of $101,640.00. Following the completion of the sale, the chief financial officer now directly owns 52,134 shares in the company, valued at $10,597,799.52. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,896 shares of company stock worth $6,049,629. 21.91% of the stock is owned by corporate insiders.

Paylocity Stock Down 1.1 %

Shares of PCTY stock opened at $195.57 on Tuesday. The stock has a 50 day moving average of $174.91 and a 200 day moving average of $158.57. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market cap of $10.90 billion, a P/E ratio of 50.59, a P/E/G ratio of 4.96 and a beta of 0.93. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68.

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.