Assenagon Asset Management S.A. Invests $19.22 Million in Paylocity Holding Corporation $PCTY

Key Points

• Assenagon Asset Management S.A. has invested approximately $19.22 million in Paylocity Holding Corporation, buying 106,075 shares during the 2nd quarter.
• Research analysts have set varied price targets for Paylocity, with BMO Capital Markets increasing their target to $230.00 while UBS Group reduced theirs to $183.00.
• Paylocity reported a significant earnings beat with an EPS of $1.56 for the last quarter, exceeding analysts' expectations of $1.38 and showing a 12.2% revenue growth year-over-year.

Assenagon Asset Management S.A. purchased a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 106,075 shares of the software maker's stock, valued at approximately $19,220,000. Assenagon Asset Management S.A. owned about 0.19% of Paylocity as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. New York State Teachers Retirement System lifted its holdings in Paylocity by 7.3% during the 1st quarter. New York State Teachers Retirement System now owns 40,154 shares of the software maker's stock worth $7,522,000 after buying an additional 2,724 shares during the last quarter. GAMMA Investing LLC lifted its stake in Paylocity by 41.9% during the first quarter. GAMMA Investing LLC now owns 545 shares of the software maker's stock worth $102,000 after purchasing an additional 161 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Paylocity by 6.5% during the first quarter. Janney Montgomery Scott LLC now owns 6,293 shares of the software maker's stock worth $1,179,000 after purchasing an additional 383 shares during the last quarter. Voya Investment Management LLC lifted its stake in Paylocity by 62.5% during the first quarter. Voya Investment Management LLC now owns 44,516 shares of the software maker's stock worth $8,340,000 after purchasing an additional 17,118 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Paylocity in the 1st quarter worth about $359,000. Institutional investors own 94.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BMO Capital Markets raised their price target on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. UBS Group decreased their target price on Paylocity from $195.00 to $183.00 and set a "neutral" rating for the company in a research note on Wednesday, September 17th. Barclays cut their price target on Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. KeyCorp raised their price target on Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $250.00 price target on shares of Paylocity in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $221.59.

Paylocity Stock Up 2.3%

PCTY opened at $168.05 on Tuesday. 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 stock's fifty day moving average is $177.81 and its 200-day moving average is $183.94. Paylocity Holding Corporation has a one year low of $159.70 and a one year high of $223.80. The company has a market capitalization of $9.27 billion, a PE ratio of 41.91, a P/E/G ratio of 3.13 and a beta of 0.51.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly 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 net margin of 14.24% and a return on equity of 22.08%. The firm had revenue of $400.74 million for the quarter, compared to analysts' expectations of $388.25 million. During the same period in the previous year, the business earned $1.48 earnings per share. Paylocity's revenue for the quarter was up 12.2% compared to the same quarter last year. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, equities analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal 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.

Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Corporation (NASDAQ:PCTY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.