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 purchased a new position in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,640 shares of the software maker's stock, valued at approximately $297,000.

Other hedge funds have also modified their holdings of the company. TCTC Holdings LLC increased its holdings in Paylocity by 115.9% during the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after purchasing an additional 80 shares during the period. USA Financial Formulas acquired a new stake in Paylocity in the first quarter valued at approximately $29,000. Hughes Financial Services LLC purchased a new position in Paylocity in the first quarter worth approximately $48,000. Bayforest Capital Ltd grew its holdings in Paylocity by 69.1% during the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock worth $55,000 after acquiring an additional 121 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Paylocity in the 1st quarter valued at $61,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the sale, the senior vice president owned 11,953 shares of the company's stock, valued at $2,112,573.22. The trade was a 12.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PCTY has been the topic of several recent analyst reports. Stephens assumed coverage on Paylocity in a report on Monday, July 21st. They issued an "equal weight" rating and a $200.00 target price on the stock. Cantor Fitzgerald raised shares of Paylocity to a "strong-buy" rating in a report on Thursday, September 11th. KeyCorp upped their target price on shares of Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Barclays reduced their price target on shares of Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a research report on Monday, July 21st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $250.00 target price on shares of Paylocity in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.71.

Paylocity Trading Down 1.5%

Shares of PCTY stock opened at $167.07 on Tuesday. The company has a market capitalization of $9.22 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 3.23 and a beta of 0.51. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The business's 50 day moving average is $179.45 and its two-hundred day moving average is $185.09. Paylocity Holding Corporation has a twelve month low of $156.55 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.18. The firm had revenue of $400.74 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Equities analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Paylocity 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.

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