Graham Capital Management L.P. Boosts Holdings in Paylocity Holding Corporation $PCTY

Key Points

• Graham Capital Management L.P. increased its stake in Paylocity Holding Corporation by 82.7%, acquiring a total of 15,135 shares worth approximately $2.84 million during the first quarter.
• Paylocity's recent earnings report showed a 12.2% year-over-year revenue growth and an EPS of $1.56, surpassing analysts' expectations.
• Thirteen investment analysts have rated Paylocity as a "Buy," while the stock currently has a consensus rating of "Moderate Buy" with an average target price of $222.71.

Graham Capital Management L.P. grew its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 82.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,135 shares of the software maker's stock after buying an additional 6,850 shares during the period. Graham Capital Management L.P.'s holdings in Paylocity were worth $2,835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vident Advisory LLC raised its position in shares of Paylocity by 61.2% in the first quarter. Vident Advisory LLC now owns 2,054 shares of the software maker's stock valued at $385,000 after buying an additional 780 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of Paylocity by 39.2% in the first quarter. Evergreen Capital Management LLC now owns 1,767 shares of the software maker's stock valued at $331,000 after buying an additional 498 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Paylocity in the first quarter valued at about $4,701,000. Canada Pension Plan Investment Board raised its position in shares of Paylocity by 43.0% in the first quarter. Canada Pension Plan Investment Board now owns 82,500 shares of the software maker's stock valued at $15,456,000 after buying an additional 24,800 shares during the last quarter. Finally, State of Wyoming raised its position in shares of Paylocity by 14.3% in the first quarter. State of Wyoming now owns 2,019 shares of the software maker's stock valued at $378,000 after buying an additional 253 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Up 0.9%

PCTY stock traded up $1.54 during mid-day trading on Thursday, hitting $175.55. 473,237 shares of the company were exchanged, compared to its average volume of 483,583. 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 $9.68 billion, a P/E ratio of 43.78, a PEG ratio of 3.55 and a beta of 0.51. The business has a fifty day simple moving average of $181.06 and a 200-day simple moving average of $187.41. Paylocity Holding Corporation has a 12-month low of $150.87 and a 12-month high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its 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 company had revenue of $400.74 million during the quarter, compared to analyst estimates of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. Paylocity's revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, equities research analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insider Activity at Paylocity

In other 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 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 SEC, which can be accessed through the SEC website. Insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $250.00 target price on shares of Paylocity in a research report on Friday, July 18th. BMO Capital Markets increased their target price on shares of Paylocity from $226.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Barclays dropped their price objective on shares of Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a report on Monday, July 21st. Finally, UBS Group upped their price objective on shares of Paylocity from $201.00 to $202.00 and gave the company a "neutral" rating in a 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.