1,686 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Acquired by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC purchased a new stake in Paylocity Holding Co. (NASDAQ:PCTY) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,686 shares of the software maker’s stock, valued at approximately $278,000.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Rothschild Investment LLC purchased a new position in Paylocity during the 2nd quarter worth $40,000. J.Safra Asset Management Corp increased its stake in Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after purchasing an additional 108 shares during the period. GAMMA Investing LLC raised its holdings in shares of Paylocity by 34.7% in the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after buying an additional 78 shares during the last quarter. Finally, RiverPark Advisors LLC boosted its stake in shares of Paylocity by 152.0% during the first quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after buying an additional 231 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a report on Monday, August 5th. KeyCorp boosted their price objective on shares of Paylocity from $171.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group reduced their target price on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Mizuho lifted their target price on shares of Paylocity from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Piper Sandler cut their price target on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $182.40.

Paylocity Stock Performance

PCTY opened at $172.09 on Friday. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $200.29. The company has a 50-day moving average of $160.82 and a 200-day moving average of $154.34. The company has a market capitalization of $9.56 billion, a P/E ratio of 47.28, a PEG ratio of 4.07 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.19. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The firm had revenue of $357.30 million during the quarter, compared to analyst estimates of $350.29 million. During the same period in the previous year, the company earned $0.76 earnings per share. Paylocity’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Paylocity Holding Co. will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares in the company, valued at $248,979,738.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the transaction, the chief executive officer now directly owns 1,745,022 shares in the company, valued at $248,979,738.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rachit Lohani sold 658 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,232 shares of company stock worth $7,183,315 over the last ninety days. 22.50% of the stock is owned by insiders.

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.