AQR Capital Management LLC Raises Stock Holdings in 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 grew its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 692.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,912 shares of the software maker's stock after purchasing an additional 65,459 shares during the quarter. AQR Capital Management LLC owned about 0.14% of Paylocity worth $13,659,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Associated Banc Corp boosted its position in shares of Paylocity by 4.5% in the first quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock valued at $226,000 after acquiring an additional 52 shares during the period. Cresset Asset Management LLC boosted its position in shares of Paylocity by 2.4% in the first quarter. Cresset Asset Management LLC now owns 2,613 shares of the software maker's stock valued at $490,000 after acquiring an additional 62 shares during the period. TCTC Holdings LLC boosted its position in shares of Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after acquiring an additional 80 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Paylocity by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the software maker's stock valued at $2,286,000 after acquiring an additional 100 shares during the period. Finally, Securian Asset Management Inc. boosted its position in shares of Paylocity by 3.1% in the first quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker's stock valued at $629,000 after acquiring an additional 100 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Paylocity Trading Down 1.5%

Shares of PCTY traded down $2.61 during mid-day trading on Monday, reaching $167.07. The company's stock had a trading volume of 592,925 shares, compared to its average volume of 483,309. The stock has a market cap of $9.22 billion, a PE ratio of 41.66, a P/E/G ratio of 3.23 and a beta of 0.51. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. Paylocity Holding Corporation has a 52 week low of $156.55 and a 52 week high of $223.80. The company's fifty day moving average price is $179.45 and its two-hundred day moving average price is $185.09.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced 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. The firm had revenue of $400.74 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the business'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 completion of the sale, the senior vice president directly owned 11,953 shares in the company, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PCTY shares. Needham & Company LLC restated a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a research report on Friday, July 18th. Stephens started coverage on shares of Paylocity in a research report on Monday, July 21st. They issued an "equal weight" rating and a $200.00 price objective for the company. UBS Group lifted their target price on shares of Paylocity from $201.00 to $202.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Barclays dropped their target price 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. Finally, KeyCorp lifted their target price on shares of Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $222.71.

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.