Avantax Advisory Services Inc. Has $387,000 Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Avantax Advisory Services Inc. lifted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 5.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,940 shares of the software maker’s stock after buying an additional 98 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Paylocity were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after buying an additional 63 shares in the last quarter. UMB Bank n.a. grew its position in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Paylocity by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock valued at $630,000 after buying an additional 77 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Paylocity by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,745 shares of the software maker’s stock valued at $348,000 after buying an additional 93 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in Paylocity by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker’s stock worth $2,414,000 after buying an additional 100 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of recent analyst reports. Barclays upped their target price on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Raymond James restated an “outperform” rating and issued a $265.00 target price (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Needham & Company LLC boosted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and raised their target price for the company from $200.00 to $235.00 in a report on Friday, January 31st. Finally, KeyCorp boosted their price target on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Stock Performance

NASDAQ PCTY opened at $196.16 on Tuesday. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The stock has a fifty day simple moving average of $201.56 and a 200 day simple moving average of $191.74. 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 (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Sell-side analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the sale, the director now directly owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 28,926 shares of company stock worth $5,578,628 over the last three months. 21.91% of the stock is owned by company 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.