Avior Wealth Management LLC Has $531,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

Avior Wealth Management LLC increased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,223 shares of the software maker’s stock after purchasing an additional 76 shares during the quarter. Avior Wealth Management LLC’s holdings in Paylocity were worth $531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PCTY. Vanguard Group Inc. grew its holdings in shares of Paylocity by 0.6% during the third quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock worth $753,012,000 after purchasing an additional 25,562 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Paylocity by 10.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,721,425 shares of the software maker’s stock valued at $334,405,000 after acquiring an additional 156,945 shares during the period. Invesco Ltd. raised its stake in shares of Paylocity by 20.7% during the first quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker’s stock valued at $284,399,000 after acquiring an additional 236,876 shares during the last quarter. State Street Corp grew its stake in shares of Paylocity by 0.3% in the second quarter. State Street Corp now owns 1,285,405 shares of the software maker’s stock worth $237,196,000 after purchasing an additional 3,620 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Paylocity by 45.7% in the fourth quarter. 1832 Asset Management L.P. now owns 540,300 shares of the software maker’s stock valued at $104,959,000 after purchasing an additional 169,500 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

PCTY stock opened at $157.50 on Friday. The business has a 50-day simple moving average of $168.88 and a two-hundred day simple moving average of $166.53. The company has a market capitalization of $8.87 billion, a P/E ratio of 53.21, a price-to-earnings-growth ratio of 3.40 and a beta of 0.87. Paylocity Holding Co. has a 52-week low of $139.40 and a 52-week high of $230.52.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $326.36 million for the quarter, compared to analysts’ expectations of $324.34 million. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. As a group, sell-side analysts forecast that Paylocity Holding Co. will post 3.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several recent research reports. BTIG Research assumed coverage on Paylocity in a research note on Tuesday, February 6th. They issued a “buy” rating and a $200.00 price target for the company. Jefferies Financial Group restated a “hold” rating and issued a $180.00 price target (down previously from $240.00) on shares of Paylocity in a research report on Friday, January 5th. KeyCorp decreased their price objective on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Citigroup boosted their target price on shares of Paylocity from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Finally, Mizuho decreased their price target on Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $205.13.

Insider Transactions at Paylocity

In related news, Director Jeffrey T. Diehl sold 1,760 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total transaction of $302,086.40. Following the transaction, the director now directly owns 14,704 shares of the company’s stock, valued at $2,523,794.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of Paylocity stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total transaction of $302,086.40. Following the transaction, the director now owns 14,704 shares of the company’s stock, valued at approximately $2,523,794.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey T. Diehl sold 20,032 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the transaction, the director now owns 16,391 shares in the company, valued at approximately $2,762,703.05. The disclosure for this sale can be found here. Insiders sold a total of 54,547 shares of company stock worth $9,356,359 in the last quarter. 22.50% of the stock is currently owned by corporate insiders.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.