AlphaQuest LLC Boosts Stock Position in Paylocity Holding Corporation $PCTY

Key Points

• AlphaQuest LLC increased its stake in Paylocity Holding Corporation by 262.3% in the second quarter, owning 13,754 shares valued at approximately $2.49 million after purchasing 9,958 additional shares.
• Several other large investors, including Associated Banc Corp and DekaBank, have also upped their holdings in Paylocity, with institutional investors collectively owning 94.76% of the stock.
• Analysts have mixed ratings on Paylocity, with one strong buy, thirteen buy ratings, and Zacks Research recently downgraded the stock to a "strong sell" rating, impacting investor sentiment.

AlphaQuest LLC grew its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 262.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,754 shares of the software maker's stock after buying an additional 9,958 shares during the period. AlphaQuest LLC's holdings in Paylocity were worth $2,492,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Associated Banc Corp lifted its position in shares of Paylocity by 4.5% during the 1st quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock valued at $226,000 after buying an additional 52 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Paylocity by 0.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,148 shares of the software maker's stock worth $1,097,000 after purchasing an additional 54 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Paylocity by 2.4% in the 1st quarter. Cresset Asset Management LLC now owns 2,613 shares of the software maker's stock worth $490,000 after purchasing an additional 62 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in Paylocity by 5.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,205 shares of the software maker's stock worth $218,000 after purchasing an additional 65 shares in the last quarter. Finally, TCTC Holdings LLC lifted its holdings in Paylocity by 115.9% in the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after purchasing an additional 80 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PCTY. Cowen reissued a "buy" rating on shares of Paylocity in a report on Monday, October 6th. Barclays reduced their price objective on Paylocity from $195.00 to $175.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Zacks Research downgraded Paylocity from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. Citigroup reduced their price objective on Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Finally, Cantor Fitzgerald raised Paylocity to a "strong-buy" rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $220.71.

Paylocity Stock Performance

Shares of Paylocity stock opened at $153.06 on Friday. The stock's fifty day moving average is $165.39 and its two-hundred day moving average is $178.83. The company has a market capitalization of $8.44 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. Paylocity Holding Corporation has a 52 week low of $147.60 and a 52 week high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, beating the consensus estimate of $1.38 by $0.18. The company had revenue of $400.74 million for the quarter, compared to the consensus estimate of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.Paylocity's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, analysts expect 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.

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