Victory Capital Management Inc. Has $31.52 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Victory Capital Management Inc. increased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 32.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 quarter.

Several other large investors have also added to or reduced their stakes in PCTY. JPMorgan Chase & Co. grew its stake in Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after purchasing an additional 385,625 shares during the period. Point72 Asset Management L.P. grew its stake in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after purchasing an additional 229,057 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Paylocity by 113.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock worth $15,904,000 after purchasing an additional 51,276 shares during the period. FMR LLC boosted its holdings in Paylocity by 19.3% in the third quarter. FMR LLC now owns 272,764 shares of the software maker’s stock worth $44,998,000 after acquiring an additional 44,118 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in Paylocity in the fourth quarter worth approximately $8,101,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY opened at $195.11 on Monday. 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 company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 4.49 and a beta of 0.94. The stock has a 50 day moving average of $203.18 and a 200 day moving average of $189.46. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS 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 earnings per share for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction on 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 directly owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 42,876 shares of company stock valued at $8,671,491 over the last ninety days. 21.91% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PCTY. UBS Group increased their price target on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. TD Cowen cut their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Needham & Company LLC increased their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $254.00 price target (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Finally, Stifel Nicolaus increased their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average target price of $233.25.

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.