Alamar Capital Management LLC Makes New Investment in Paylocity Holding Corporation $PCTY

Alamar Capital Management LLC purchased a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,638 shares of the software maker's stock, valued at approximately $798,000.

Other institutional investors have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Paylocity by 60.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,486 shares of the software maker's stock valued at $7,249,000 after buying an additional 17,950 shares during the period. California State Teachers Retirement System increased its stake in shares of 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 buying an additional 7,891 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Paylocity by 32.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 198,150 shares of the software maker's stock worth $30,218,000 after buying an additional 48,380 shares during the period. UBS Group AG raised its holdings in Paylocity by 38.3% in the fourth quarter. UBS Group AG now owns 415,879 shares of the software maker's stock valued at $63,422,000 after acquiring an additional 115,111 shares in the last quarter. Finally, CWM LLC lifted its stake in Paylocity by 113.6% in the fourth quarter. CWM LLC now owns 25,272 shares of the software maker's stock worth $3,854,000 after acquiring an additional 13,441 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Up 1.3%

Shares of NASDAQ:PCTY opened at $147.32 on Wednesday. The company has a market capitalization of $7.82 billion, a PE ratio of 29.76 and a beta of 0.47. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $182.83. The firm has a 50 day simple moving average of $123.62 and a 200-day simple moving average of $114.74.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business had revenue of $444.73 million during the quarter, compared to analysts' expectations of $431.46 million. During the same quarter in the prior year, the business posted $1.56 EPS. The company's revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts predict that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 11,136 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $150.81, for a total value of $1,679,420.16. Following the completion of the sale, the director directly owned 4,535,052 shares of the company's stock, valued at $683,931,192.12. This represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company's stock.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of recent analyst reports. Robert W. Baird set a $201.00 price objective on shares of Paylocity in a research report on Wednesday, August 5th. Cantor Fitzgerald boosted their target price on shares of Paylocity from $140.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Citigroup reissued a "buy" rating on shares of Paylocity in a report on Thursday, August 6th. Truist Financial cut their price target on Paylocity from $180.00 to $165.00 and set a "buy" rating on the stock in a research note on Monday, June 29th. Finally, Stephens decreased their price target on Paylocity from $160.00 to $120.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Paylocity has an average rating of "Moderate Buy" and a consensus target price of $160.00.

Paylocity Company Profile

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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