Renaissance Group LLC Acquires 6,956 Shares of Paylocity Holding Corporation $PCTY

Renaissance Group LLC increased its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 29.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 30,216 shares of the software maker’s stock after buying an additional 6,956 shares during the quarter. Renaissance Group LLC’s holdings in Paylocity were worth $5,475,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PCTY. Voya Investment Management LLC grew its position in Paylocity by 62.5% in the first quarter. Voya Investment Management LLC now owns 44,516 shares of the software maker’s stock valued at $8,340,000 after acquiring an additional 17,118 shares during the period. Millennium Management LLC lifted its holdings in Paylocity by 86.8% in the first quarter. Millennium Management LLC now owns 211,995 shares of the software maker’s stock valued at $39,715,000 after buying an additional 98,520 shares during the period. CWM LLC boosted its stake in Paylocity by 257.9% in the second quarter. CWM LLC now owns 6,822 shares of the software maker’s stock valued at $1,236,000 after acquiring an additional 4,916 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Paylocity during the 2nd quarter worth $2,283,000. Finally, Conestoga Capital Advisors LLC raised its position in shares of Paylocity by 16.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 124,988 shares of the software maker’s stock valued at $22,647,000 after acquiring an additional 17,665 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James Financial set a $220.00 price target on Paylocity and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Paylocity in a report on Thursday, November 13th. Zacks Research upgraded Paylocity from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Stephens cut their price target on shares of Paylocity from $200.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Finally, UBS Group reduced their price objective on shares of Paylocity from $195.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.83.

Paylocity Stock Performance

NASDAQ PCTY opened at $144.07 on Thursday. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 4.34 and a beta of 0.58. The business has a 50 day simple moving average of $153.27 and a 200 day simple moving average of $173.31. Paylocity Holding Corporation has a 52-week low of $135.46 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.23. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The company had revenue of $408.17 million during the quarter, compared to analysts’ expectations of $399.53 million. During the same quarter in the prior year, the company earned $1.66 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Paylocity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current year.

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.