Focus Partners Advisor Solutions LLC Takes $873,000 Position in Paylocity Holding Corporation $PCTY

Key Points

• Focus Partners Advisor Solutions acquired 8,350 Paylocity shares worth approximately $873,000 during the second quarter. Institutional investors collectively own 94.76% of the company.
• Paylocity reported quarterly EPS of $1.84, beating estimates of $1.62, while revenue rose 11% year over year to $444.73 million.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus rating and an average price target of $160; shares recently traded at $145.47.

Focus Partners Advisor Solutions LLC acquired a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,350 shares of the software maker's stock, valued at approximately $873,000.

Other institutional investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker's stock worth $25,551,000 after purchasing an additional 7,594 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Paylocity by 24.5% in the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker's stock worth $256,000 after buying an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Paylocity by 537.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker's stock valued at $84,000 after purchasing an additional 392 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Paylocity by 2,782.7% during the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker's stock valued at $6,466,000 after buying an additional 34,450 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Paylocity by 10.0% in the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker's stock worth $3,486,000 after acquiring an additional 1,749 shares during the period. Institutional investors own 94.76% of the company's stock.

Paylocity Trading Down 1.9%

Shares of PCTY opened at $145.47 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 29.39 and a beta of 0.47. The company has a 50-day moving average of $122.93 and a 200 day moving average of $114.69. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $182.83.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.Paylocity's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $1.56 EPS. On average, research analysts expect that Paylocity Holding Corporation will post 6.86 EPS for the current year.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 11,136 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $150.81, for a total transaction of $1,679,420.16. Following the transaction, the director owned 4,535,052 shares of the company's stock, valued at approximately $683,931,192.12. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

PCTY has been the subject of a number of research reports. Citigroup reiterated a "buy" rating on shares of Paylocity in a research report on Thursday, August 6th. TD Cowen lifted their target price on shares of Paylocity from $137.00 to $168.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Robert W. Baird set a $201.00 price target on Paylocity in a research note on Wednesday, August 5th. UBS Group increased their price objective on shares of Paylocity from $122.00 to $128.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. Finally, Truist Financial cut their target price on shares of Paylocity from $180.00 to $165.00 and set a "buy" rating for the company in a report on Monday, June 29th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $160.00.

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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