Comerica Bank Buys 11,900 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Comerica Bank increased its stake in Paylocity Holding Corporation by 57.6%, owning approximately 32,572 shares valued at $6.1 million at the end of the first quarter.
• Several analysts have recently revised their price targets for Paylocity, with estimates ranging from $200.00 to $225.00, maintaining mostly "buy" and "overweight" ratings.
• Paylocity reported an earnings per share (EPS) of $1.56 for its most recent quarter, exceeding analyst expectations and reflecting a year-over-year revenue growth of 12.2%.

Comerica Bank lifted its position in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 57.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,572 shares of the software maker's stock after purchasing an additional 11,900 shares during the quarter. Comerica Bank owned about 0.06% of Paylocity worth $6,102,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PCTY. Northern Trust Corp raised its position in Paylocity by 22.4% during the fourth quarter. Northern Trust Corp now owns 461,217 shares of the software maker's stock valued at $91,999,000 after acquiring an additional 84,254 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of Paylocity in the fourth quarter worth approximately $1,132,000. AXA S.A. boosted its stake in shares of Paylocity by 14.3% in the fourth quarter. AXA S.A. now owns 164,804 shares of the software maker's stock worth $32,873,000 after acquiring an additional 20,635 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Paylocity by 4.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 487,593 shares of the software maker's stock worth $97,260,000 after acquiring an additional 22,655 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Paylocity by 1.2% during the fourth quarter. Ameriprise Financial Inc. now owns 291,440 shares of the software maker's stock worth $58,134,000 after buying an additional 3,548 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PCTY shares. Jefferies Financial Group lowered their price objective on Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Citigroup cut their price objective on Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a report on Monday, July 21st. BMO Capital Markets upped their price target on Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. KeyCorp upped 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, UBS Group upped their price objective on Paylocity from $201.00 to $202.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $222.71.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the sale, the senior vice president owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.91% of the company's stock.

Paylocity Price Performance

Shares of NASDAQ:PCTY traded down $4.34 on Tuesday, reaching $174.89. 222,575 shares of the company traded hands, compared to its average volume of 481,569. The company's 50 day moving average is $181.25 and its 200-day moving average is $187.59. The stock has a market capitalization of $9.65 billion, a PE ratio of 43.49, a P/E/G ratio of 3.55 and a beta of 0.51. Paylocity Holding Corporation has a fifty-two week low of $150.87 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. The company had revenue of $400.74 million during the quarter, compared to analyst estimates of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The company's revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, analysts anticipate 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.