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

Venturi Wealth Management LLC grew its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 45.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 544 shares of the software maker’s stock after acquiring an additional 169 shares during the period. Venturi Wealth Management LLC’s holdings in Paylocity were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of PCTY. Janney Montgomery Scott LLC grew its position in shares of Paylocity by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 6,343 shares of the software maker’s stock valued at $1,090,000 after purchasing an additional 708 shares during the last quarter. Empowered Funds LLC increased its position in Paylocity by 37.9% during the 1st quarter. Empowered Funds LLC now owns 5,191 shares of the software maker’s stock worth $892,000 after buying an additional 1,426 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Paylocity by 6.0% during the first quarter. SG Americas Securities LLC now owns 5,681 shares of the software maker’s stock worth $976,000 after buying an additional 322 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Paylocity by 24.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,816 shares of the software maker’s stock valued at $4,437,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Paylocity by 4.5% during the first quarter. Lord Abbett & CO. LLC now owns 151,192 shares of the software maker’s stock worth $25,984,000 after acquiring an additional 6,549 shares during the period. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the transaction, the director now owns 11,755 shares in the company, valued at $2,310,445.25. The trade was a 71.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value 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 approximately $6,474,772.12. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,896 shares of company stock valued at $6,049,629 in the last three months. Insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCTY. KeyCorp increased their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. Finally, Needham & Company LLC raised their target price on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.64.

Paylocity Price Performance

PCTY stock opened at $205.50 on Friday. The company has a market capitalization of $11.46 billion, a P/E ratio of 53.08, a PEG ratio of 5.34 and a beta of 0.93. The company has a fifty day moving average price of $173.03 and a 200-day moving average price of $157.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68.

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.