VIRGINIA RETIREMENT SYSTEMS ET Al lowered its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY – Free Report) by 84.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the software maker’s stock after selling 15,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Paylocity were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of PCTY. California State Teachers Retirement System boosted its position in Paylocity by 18.9% during the first quarter. California State Teachers Retirement System now owns 49,614 shares of the software maker’s stock worth $5,360,000 after purchasing an additional 7,891 shares during the period. Deutsche Bank AG acquired a new position in Paylocity during the second quarter valued at approximately $54,906,000. Hsbc Holdings PLC raised its position in shares of Paylocity by 181.7% in the second quarter. Hsbc Holdings PLC now owns 32,688 shares of the software maker’s stock valued at $3,411,000 after purchasing an additional 21,083 shares during the period. Ieq Capital LLC bought a new position in shares of Paylocity in the second quarter valued at approximately $20,119,000. Finally, BlackRock Inc. acquired a new stake in shares of Paylocity in the second quarter worth $430,315,000. Institutional investors and hedge funds own 94.76% of the company’s stock.
Paylocity Stock Up 2.1%
PCTY stock opened at $173.15 on Friday. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $180.88. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The company has a market cap of $9.03 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.05 and a beta of 0.43. The business’s 50-day simple moving average is $156.11 and its 200 day simple moving average is $127.44.
Paylocity (NASDAQ:PCTY – Get Free Report) last issued its earnings results on Thursday, November 5th. The software maker reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.16. The business had revenue of $451.67 million during the quarter, compared to analyst estimates of $443.12 million. Paylocity had a return on equity of 27.49% and a net margin of 15.40%. Paylocity’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 earnings per share. On average, research analysts anticipate that Paylocity Holding Corporation will post 6.94 earnings per share for the current year.
Insider Buying and Selling at Paylocity
In other news, Director Steven Sarowitz sold 8,900 shares of the business’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $171.31, for a total transaction of $1,524,659.00. Following the completion of the sale, the director owned 4,354,869 shares in the company, valued at $746,032,608.39. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Steven R. Beauchamp sold 15,000 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $165.22, for a total value of $2,478,300.00. Following the transaction, the chairman directly owned 1,243,389 shares in the company, valued at $205,432,730.58. This trade represents a 1.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 151,704 shares of company stock valued at $25,137,741 over the last three months. Insiders own 19.40% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on PCTY. BMO Capital Markets upped their price objective on shares of Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. TD Cowen raised their target price on shares of Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Zacks Research downgraded shares of Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Citizens Jmp boosted their target price on shares of Paylocity from $180.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday. Finally, Guggenheim boosted their target price on shares of Paylocity from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $177.47.
View Our Latest Stock Report on Paylocity
Paylocity News Roundup
Here are the key news stories impacting Paylocity this week:
- Positive Sentiment: For Q1 fiscal 2027, Paylocity reported adjusted earnings of $2.09 per share, versus the $1.93 consensus, and revenue of $451.7 million, above the $443.1 million estimate. Revenue increased 10.7% year over year, while recurring and other revenue rose 12%. The company’s full-year outlook slightly exceeded expectations. Paylocity Announces First Quarter Fiscal 2027 Financial Results
- Positive Sentiment: Analyst target increases added to the upbeat tone: Citizens JMP raised its target to $200 and kept a market outperform rating; Truist raised its target to $200 and maintained Buy; and BTIG lifted its target to $210 and reiterated Buy. Citizens JMP recommendations Truist target change BTIG Research recommendations
- Positive Sentiment: Paylocity repurchased $152.5 million of shares during the quarter, continuing a buyback program that may support per-share results. It also completed the acquisition of Aidora to expand AI-powered leave-management capabilities. Quarterly results release
- Neutral Sentiment: Barclays raised its price target to $176 but maintained an Equal Weight rating, signaling a more cautious view than the other target revisions. Barclays recommendations
Paylocity Profile
Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) and payroll software for organizations. Its platform is designed to help employers manage payroll, human resources, employee benefits, talent acquisition, onboarding, performance, learning, and workforce administration through an integrated system.
The company also offers tools for time and labor management, scheduling, employee communications, engagement, surveys, expense management, and other workplace activities.
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