Venturi Wealth Management LLC Purchases 169 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Venturi Wealth Management LLC boosted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 45.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 544 shares of the software maker’s stock after purchasing an additional 169 shares during the quarter. Venturi Wealth Management LLC’s holdings in Paylocity were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $1,518,176,000 after buying an additional 278,607 shares during the last quarter. Liontrust Investment Partners LLP lifted its stake in shares of Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after purchasing an additional 172,807 shares during the period. Van Berkom & Associates Inc. boosted its position in shares of Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after purchasing an additional 98,478 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Paylocity by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock valued at $62,324,000 after purchasing an additional 21,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after buying an additional 123,744 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price target on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler upped their target price on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. BTIG Research decreased their price target on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. Finally, StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $196.64.

Paylocity Price Performance

Shares of PCTY opened at $205.50 on Friday. The company has a 50 day moving average of $173.03 and a 200-day moving average of $157.87. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $11.46 billion, a P/E ratio of 53.08, a P/E/G ratio of 5.34 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.

Insider Buying and Selling at Paylocity

In other news, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the sale, the director now owns 11,755 shares in the company, valued at $2,310,445.25. This represents a 71.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,896 shares of company stock worth $6,049,629. Insiders own 21.91% of the company’s stock.

Paylocity Company 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.