Atria Wealth Solutions Inc. Has $393,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

Atria Wealth Solutions Inc. decreased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 53.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,381 shares of the software maker’s stock after selling 2,773 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Paylocity were worth $393,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Paylocity in the fourth quarter valued at approximately $82,172,000. Liontrust Investment Partners LLP acquired a new position in shares of Paylocity in the 3rd quarter valued at $90,181,000. Comerica Bank bought a new position in shares of Paylocity in the 3rd quarter worth $18,506,000. Westfield Capital Management Co. LP grew its stake in shares of Paylocity by 26.8% during the third quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock worth $85,856,000 after purchasing an additional 99,781 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Paylocity in the third quarter valued at about $17,262,000. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paylocity

In other news, Director Jeffrey T. Diehl sold 20,032 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the sale, the director now directly owns 16,391 shares of the company’s stock, valued at approximately $2,762,703.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Steven I. Sarowitz sold 24,504 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the transaction, the director now directly owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Diehl sold 20,032 shares of Paylocity stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the sale, the director now directly owns 16,391 shares of the company’s stock, 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 over the last quarter. 22.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PCTY shares. Mizuho lowered their price target on Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. JMP Securities reissued a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a report on Monday, January 22nd. Piper Sandler dropped their price objective on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $200.00 price target on shares of Paylocity in a report on Friday, May 3rd. Finally, BTIG Research started coverage on Paylocity in a report on Tuesday, February 6th. They set a “buy” rating and a $200.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $196.67.

Paylocity Price Performance

Paylocity stock opened at $169.09 on Wednesday. Paylocity Holding Co. has a one year low of $139.40 and a one year high of $230.52. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 49.15, a P/E/G ratio of 3.63 and a beta of 0.88. The firm has a 50-day moving average of $165.32 and a 200-day moving average of $162.67.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The firm had revenue of $326.36 million during the quarter, compared to the consensus estimate of $324.34 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. As a group, sell-side analysts expect that Paylocity Holding Co. will post 3.48 earnings per share for the current year.

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.