Chicago Capital LLC Has $14.88 Million Stake in Paylocity Holding Corporation $PCTY

Key Points

• Chicago Capital LLC increased its stake in Paylocity by 1,165% in Q4 to 97,579 shares (about $14.88 million), representing roughly 0.18% of the company.
• Paylocity beat expectations for the quarter with EPS $1.85 vs. $1.57 expected and revenue of $416.13M (vs. $408.37M), a 10.4% year-over-year increase.
• Analysts maintain a consensus rating of “Moderate Buy” with an average price target of $179.53 (versus the recent share price around $100.78), though several firms have trimmed targets to ~$150 and ratings are mixed across analysts.

Chicago Capital LLC boosted its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 1,165.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,579 shares of the software maker's stock after purchasing an additional 89,865 shares during the period. Chicago Capital LLC owned about 0.18% of Paylocity worth $14,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new position in shares of Paylocity in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Paylocity by 363.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker's stock valued at $29,000 after acquiring an additional 149 shares during the period. Advisory Services Network LLC bought a new position in shares of Paylocity in the 3rd quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Paylocity in the 3rd quarter valued at about $41,000. Finally, Allworth Financial LP grew its position in shares of Paylocity by 88.0% in the 3rd quarter. Allworth Financial LP now owns 282 shares of the software maker's stock valued at $45,000 after acquiring an additional 132 shares during the period. Institutional investors own 94.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PCTY shares. BTIG Research decreased their price objective on shares of Paylocity from $180.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, February 6th. Mizuho decreased their price objective on shares of Paylocity from $180.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. Cantor Fitzgerald reissued an "overweight" rating on shares of Paylocity in a research report on Thursday, January 29th. Barclays set a $146.00 price objective on shares of Paylocity in a research report on Friday, February 6th. Finally, Weiss Ratings downgraded shares of Paylocity from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, January 27th. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $179.53.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $100.78 on Friday. The firm has a 50 day moving average of $107.84 and a 200-day moving average of $133.26. The stock has a market capitalization of $5.43 billion, a PE ratio of 23.71, a PEG ratio of 2.91 and a beta of 0.57. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $201.97.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its 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. The company had revenue of $416.13 million during the quarter, compared to analysts' expectations of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. On average, equities research analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Paylocity Company 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.