Boston Trust Walden Corp Makes New $24.09 Million Investment in Paylocity Holding Corporation $PCTY

Key Points

• Boston Trust Walden Corp established a new position in Paylocity (NASDAQ:PCTY) of 157,953 shares worth about $24.09 million, representing roughly a 0.29% stake at quarter-end.
• Paylocity beat expectations in its latest quarter, reporting $1.85 EPS vs. $1.57 estimate and $416.1M in revenue (up 10.4% year-over-year) with a 14.2% net margin and 23.4% return on equity.
• Analyst outlook remains largely positive: 15 Buys, 4 Holds and 1 Sell produce a "Moderate Buy" consensus with an average target of $178.16, though several firms have recently trimmed price targets.

Boston Trust Walden Corp bought a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 157,953 shares of the software maker's stock, valued at approximately $24,088,000. Boston Trust Walden Corp owned 0.29% of Paylocity at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp acquired a new position in Paylocity during the fourth quarter worth about $928,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Paylocity by 60.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,486 shares of the software maker's stock worth $7,249,000 after buying an additional 17,950 shares during the period. Optas LLC acquired a new position in Paylocity during the fourth quarter worth about $310,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Paylocity by 8.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,846 shares of the software maker's stock worth $2,264,000 after buying an additional 1,109 shares during the period. Finally, Krilogy Financial LLC grew its position in Paylocity by 66.4% during the fourth quarter. Krilogy Financial LLC now owns 3,230 shares of the software maker's stock worth $470,000 after buying an additional 1,289 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on PCTY shares. BMO Capital Markets lowered their target price on shares of Paylocity from $185.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Paylocity in a research report on Thursday, January 29th. Robert W. Baird set a $220.00 price target on shares of Paylocity in a research report on Friday, February 6th. Stephens set a $160.00 price target on shares of Paylocity in a research report on Friday, January 16th. Finally, KeyCorp lowered their price target on shares of Paylocity from $225.00 to $190.00 and set an "overweight" rating on the stock in a research report on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.16.

Paylocity Stock Up 0.5%

PCTY stock opened at $104.13 on Thursday. The company's 50 day simple moving average is $107.38 and its 200-day simple moving average is $132.00. The firm has a market capitalization of $5.61 billion, a PE ratio of 24.50, a P/E/G ratio of 3.00 and a beta of 0.57. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $201.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. During the same period in the prior year, the business earned $1.52 earnings per share. The company's quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts expect that Paylocity Holding Corporation will post 5.31 earnings per share for the current fiscal year.

Paylocity 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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