Venturi Wealth Management LLC Acquires 902 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Venturi Wealth Management LLC increased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 165.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,446 shares of the software maker’s stock after acquiring an additional 902 shares during the period. Venturi Wealth Management LLC’s holdings in Paylocity were worth $288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new stake in Paylocity in the third quarter worth $39,000. UMB Bank n.a. grew its holdings 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. Signaturefd LLC increased its stake in Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the period. Quarry LP lifted its holdings in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after buying an additional 116 shares during the period. 94.76% of the stock is owned by institutional investors.

Paylocity Price Performance

Shares of PCTY opened at $206.42 on Friday. The company has a 50 day moving average of $202.73 and a two-hundred day moving average of $185.25. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 52.93, a price-to-earnings-growth ratio of 4.73 and a beta of 0.95. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. TD Cowen lowered their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Raymond James restated an “outperform” rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a 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. According to MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Insider Activity

In other news, Director Jeffrey T. Diehl sold 4,513 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $209.91, for a total transaction of $947,323.83. Following the sale, the director now directly owns 1,003 shares of the company’s stock, valued at $210,539.73. The trade was a 81.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the transaction, the director now directly owns 9,214,115 shares in the company, valued at approximately $1,935,885,561.50. The trade was a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,999 shares of company stock worth $17,822,987 over the last 90 days. 21.91% of the stock is currently owned by corporate insiders.

Paylocity 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.