Eventide Asset Management LLC Sells 1,765 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Eventide Asset Management LLC reduced its stake in Paylocity by 21.6%, selling 1,765 shares, bringing its holdings down to 6,411 shares valued at $1.2 million.
• Paylocity's recent quarterly earnings report revealed $1.56 earnings per share, exceeding analysts' expectations and reflecting a 12.2% year-over-year revenue increase.
• Analysts have a consensus rating of "Moderate Buy" for Paylocity, with an average target price set at $222.71, supported by several price target increases from different investment firms.

Eventide Asset Management LLC lessened its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,411 shares of the software maker's stock after selling 1,765 shares during the quarter. Eventide Asset Management LLC's holdings in Paylocity were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PCTY. TCTC Holdings LLC increased its position in shares of Paylocity by 115.9% during 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 in the last quarter. USA Financial Formulas bought a new stake in shares of Paylocity during the first quarter valued at approximately $29,000. Hughes Financial Services LLC bought a new stake in shares of Paylocity during the first quarter valued at approximately $48,000. Bayforest Capital Ltd increased its position in shares of Paylocity by 69.1% during the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after acquiring an additional 121 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Paylocity during the first quarter valued at approximately $61,000. Institutional investors own 94.76% of the company's stock.

Paylocity Price Performance

PCTY stock traded down $1.15 during midday trading on Friday, hitting $174.40. The company's stock had a trading volume of 494,145 shares, compared to its average volume of 488,051. Paylocity Holding Corporation has a 12 month low of $150.87 and a 12 month high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 43.49, a price-to-earnings-growth ratio of 3.45 and a beta of 0.51. The company has a 50 day moving average of $180.93 and a two-hundred day moving average of $186.50.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced 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. The business had revenue of $400.74 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, analysts expect that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Insider Activity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the sale, the senior vice president directly owned 11,953 shares in the company, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.91% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PCTY shares. Cantor Fitzgerald started coverage on shares of Paylocity in a research report on Thursday, August 14th. They set an "overweight" rating and a $215.00 price target for the company. Citigroup cut their target price on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating for the company in a research report on Monday, July 21st. UBS Group lifted their target price on shares of Paylocity from $201.00 to $202.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $250.00 target price on shares of Paylocity in a research report on Friday, July 18th. Finally, Raymond James Financial set a $220.00 price target on shares of Paylocity and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.