Gallacher Capital Management LLC Makes New Investment in Paylocity Holding Corporation $PCTY

Key Points

• Gallacher Capital Management LLC recently acquired a new position in Paylocity Holding Corporation, purchasing 1,640 shares valued at approximately $297,000.
• Institutional investors now own 94.76% of Paylocity's stock, indicating strong support from hedge funds, with notable increases from firms such as TCTC Holdings LLC and USA Financial Formulas.
• Analyst ratings for Paylocity show a consensus rating of "Moderate Buy" with a target price of $222.71, with ratings ranging from "Strong Buy" to "Hold" from various firms.

Gallacher Capital Management LLC bought a new stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,640 shares of the software maker's stock, valued at approximately $297,000.

Several other hedge funds also recently modified their holdings of the business. Kera Capital Partners Inc. boosted its stake in shares of Paylocity by 14.9% in the 2nd quarter. Kera Capital Partners Inc. now owns 1,601 shares of the software maker's stock valued at $290,000 after purchasing an additional 208 shares during the last quarter. Voya Investment Management LLC lifted its stake in Paylocity by 62.5% in the first quarter. Voya Investment Management LLC now owns 44,516 shares of the software maker's stock valued at $8,340,000 after buying an additional 17,118 shares in the last quarter. First Hawaiian Bank lifted its stake in Paylocity by 6.6% in the first quarter. First Hawaiian Bank now owns 4,100 shares of the software maker's stock valued at $768,000 after buying an additional 255 shares in the last quarter. Strs Ohio bought a new position in Paylocity in the first quarter valued at approximately $1,117,000. Finally, Acadian Asset Management LLC lifted its position in shares of Paylocity by 355.7% in the first quarter. Acadian Asset Management LLC now owns 71,706 shares of the software maker's stock worth $13,427,000 after purchasing an additional 55,972 shares in the last quarter. Institutional investors own 94.76% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PCTY shares. Stephens started coverage on shares of Paylocity in a report on Monday, July 21st. They set an "equal weight" rating and a $200.00 target price on the stock. KeyCorp boosted their target price on shares of Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Citigroup lowered their target price on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Cantor Fitzgerald upgraded shares of Paylocity to a "strong-buy" rating in a report on Thursday, September 11th. Finally, Zacks Research upgraded shares of Paylocity from a "strong sell" rating to a "hold" rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Paylocity has a consensus rating of "Moderate Buy" and an average target price of $221.59.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares in the company, valued at $2,112,573.22. This trade represents a 12.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.91% of the company's stock.

Paylocity Price Performance

Shares of PCTY stock traded down $0.79 on Friday, reaching $164.22. The company had a trading volume of 914,896 shares, compared to its average volume of 475,745. The stock has a market capitalization of $9.06 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 3.14 and a beta of 0.51. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. Paylocity Holding Corporation has a one year low of $159.70 and a one year high of $223.80. The business's 50-day moving average is $178.06 and its 200 day moving average is $184.30.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.18. The firm had revenue of $400.74 million during 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 revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Equities research analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

About Paylocity

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.