Paylocity Holding Corporation $PCTY Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 40.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the software maker's stock after selling 20,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.05% of Paylocity worth $5,620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PCTY. Ameriprise Financial Inc. grew its stake in shares of Paylocity by 1.2% during the 4th quarter. Ameriprise Financial Inc. now owns 291,440 shares of the software maker's stock worth $58,134,000 after purchasing an additional 3,548 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Paylocity by 393.6% in the 4th quarter. BNP Paribas Financial Markets now owns 37,864 shares of the software maker's stock worth $7,553,000 after buying an additional 30,193 shares in the last quarter. Benjamin Edwards Inc. purchased a new stake in shares of Paylocity in the 4th quarter worth about $201,000. D. E. Shaw & Co. Inc. boosted its position in shares of Paylocity by 229.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 91,372 shares of the software maker's stock worth $18,226,000 after buying an additional 63,602 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in Paylocity in the 4th quarter valued at about $219,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Raymond James Financial set a $220.00 target price on shares of Paylocity and gave the company an "outperform" rating in a report on Wednesday, July 30th. KeyCorp increased their price objective on shares of Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Cantor Fitzgerald upgraded shares of Paylocity to a "strong-buy" rating in a report on Thursday. Citigroup cut their price objective on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Finally, Stephens initiated coverage on shares of Paylocity in a report on Monday, July 21st. They set an "equal weight" rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $222.71.

Insider Activity

In other 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 completion of 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 can be accessed through the SEC website. Company insiders own 21.91% of the company's stock.

Paylocity Stock Down 1.2%

Shares of PCTY stock traded down $2.08 during mid-day trading on Friday, reaching $169.85. 69,481 shares of the company were exchanged, compared to its average volume of 484,689. Paylocity Holding Corporation has a fifty-two week low of $154.91 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $9.37 billion, a P/E ratio of 42.36, a P/E/G ratio of 3.35 and a beta of 0.51. The business's 50 day simple moving average is $180.09 and its 200 day simple moving average is $185.82.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The business's quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Research analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share 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.