AQR Capital Management LLC Buys 65,459 Shares of Paylocity Holding Corporation $PCTY

Key Points

• AQR Capital Management LLC significantly increased its stake in Paylocity Holding Corporation by 692.5% in Q1, owning a total of 74,912 shares valued at approximately $13.66 million.
• Several institutional investors, including TCTC Holdings LLC and Bayforest Capital Ltd, have also increased their stakes in Paylocity, reflecting strong interest in the company.
• Wall Street analysts have a generally positive outlook on Paylocity, with an average price target of $222.71 and a consensus rating of "Moderate Buy" for the stock.

AQR Capital Management LLC increased its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 692.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 74,912 shares of the software maker's stock after buying an additional 65,459 shares during the period. AQR Capital Management LLC owned 0.14% of Paylocity worth $13,659,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. TCTC Holdings LLC lifted its position in Paylocity by 115.9% during the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after acquiring an additional 80 shares during the last quarter. USA Financial Formulas acquired a new stake in Paylocity during the 1st quarter worth approximately $29,000. Hughes Financial Services LLC acquired a new stake in Paylocity during the 1st quarter worth approximately $48,000. Bayforest Capital Ltd boosted its stake in Paylocity by 69.1% in the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after purchasing an additional 121 shares during the period. Finally, SVB Wealth LLC acquired a new position in Paylocity in the 1st quarter valued at $61,000. 94.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the sale, the senior vice president owned 11,953 shares in the company, valued at $2,112,573.22. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 21.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PCTY shares. KeyCorp lifted their target price on Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Stephens initiated coverage on shares of Paylocity in a research note on Monday, July 21st. They issued an "equal weight" rating and a $200.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a report on Friday, July 18th. Raymond James Financial set a $220.00 target price on shares of Paylocity and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Barclays dropped their price target on shares of Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a research report on Monday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and an average price target of $222.71.

Paylocity Price Performance

Paylocity stock opened at $172.04 on Wednesday. The stock has a fifty day moving average of $180.56 and a 200-day moving average of $186.18. The stock has a market capitalization of $9.49 billion, a P/E ratio of 42.90, a price-to-earnings-growth ratio of 3.42 and a beta of 0.51. 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 52 week low of $152.95 and a 52 week high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, topping the consensus estimate of $1.38 by $0.18. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The firm had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The business's quarterly revenue 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 expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Paylocity Company 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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