Acadian Asset Management LLC Buys 55,972 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Acadian Asset Management LLC increased its stake in Paylocity Holding Corporation by 355.7%, acquiring an additional 55,972 shares during the first quarter, bringing their total ownership to 71,706 shares worth approximately $13.4 million.
• Analysts have mixed ratings on Paylocity, with a consensus price target of $222.71 and several firms adjusting their price objectives, including BMO Capital Markets raising theirs from $226 to $230.
• The company recently reported earnings of $1.56 per share, surpassing expectations, with a revenue of $400.74 million, showcasing a 12.2% year-over-year growth.

Acadian Asset Management LLC raised its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 355.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,706 shares of the software maker's stock after buying an additional 55,972 shares during the period. Acadian Asset Management LLC owned approximately 0.13% of Paylocity worth $13,427,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Paylocity by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock valued at $807,966,000 after buying an additional 283,430 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Paylocity by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,287,514 shares of the software maker's stock valued at $803,224,000 after purchasing an additional 141,705 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Paylocity by 0.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,987,037 shares of the software maker's stock valued at $746,932,000 after purchasing an additional 13,027 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Paylocity by 47.0% during the 1st quarter. American Century Companies Inc. now owns 514,194 shares of the software maker's stock valued at $96,329,000 after purchasing an additional 164,397 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Paylocity by 1.8% during the 1st quarter. Northern Trust Corp now owns 469,566 shares of the software maker's stock valued at $87,968,000 after purchasing an additional 8,349 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the transaction, the senior vice president owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 21.91% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on PCTY. BMO Capital Markets raised their target price on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. KeyCorp raised their target price on shares of Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Raymond James Financial set a $220.00 target price on shares of Paylocity and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Jefferies Financial Group decreased their target price on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Citigroup decreased their target price on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating for the company in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Paylocity presently has an average rating of "Moderate Buy" and a consensus target price of $221.59.

Paylocity Stock Performance

Shares of Paylocity stock traded down $0.60 on Wednesday, reaching $165.27. The stock had a trading volume of 95,322 shares, compared to its average volume of 484,686. The business's 50-day moving average price is $179.07 and its two-hundred day moving average price is $184.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Corporation has a fifty-two week low of $159.64 and a fifty-two week high of $223.80. The stock has a market cap of $9.12 billion, a P/E ratio of 41.18, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.18. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The business had revenue of $400.74 million during the quarter, compared to analysts' expectations of $388.25 million. During the same period in the previous year, the company earned $1.48 earnings per share. Paylocity's revenue for the quarter was up 12.2% on a year-over-year basis. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, sell-side analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current year.

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.