Granahan Investment Management LLC Trims Stake in Paylocity Holding Corporation $PCTY

Key Points

• Granahan Investment Management LLC has reduced its stake in Paylocity Holding Corporation by 36.7%, now owning approximately $17.97 million worth of shares after selling 55,588 shares.
• Paylocity's stock is currently rated as a Moderate Buy by analysts, with a consensus target price of $222.71, reflecting a variety of price targets set by multiple investment firms.
• The company reported a 12.2% increase in quarterly revenue compared to the previous year, with earnings per share of $1.56, surpassing analyst expectations.

Granahan Investment Management LLC lowered its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,913 shares of the software maker's stock after selling 55,588 shares during the period. Granahan Investment Management LLC owned 0.17% of Paylocity worth $17,968,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC increased its holdings in shares of Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after buying an additional 80 shares during the period. USA Financial Formulas purchased a new position in shares of Paylocity in the first quarter worth about $29,000. Hughes Financial Services LLC purchased a new position in shares of Paylocity in the first quarter worth about $48,000. Bayforest Capital Ltd grew its stake in shares of Paylocity by 69.1% in the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock worth $55,000 after purchasing an additional 121 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Paylocity in the first quarter worth about $61,000. Institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PCTY shares. Needham & Company LLC reissued a "buy" rating and issued a $250.00 target price on shares of Paylocity in a research note on Friday, July 18th. Jefferies Financial Group cut their target price on Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. BMO Capital Markets raised their target price on Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Raymond James Financial set a $220.00 price objective on Paylocity and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, UBS Group lifted their price objective on Paylocity from $201.00 to $202.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $222.71.

Paylocity Stock Down 0.7%

NASDAQ PCTY traded down $1.15 during mid-day trading on Friday, reaching $174.40. The stock had a trading volume of 494,145 shares, compared to its average volume of 488,051. The stock has a market cap of $9.62 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 3.45 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14. The company has a fifty day moving average price of $180.93 and a 200 day moving average price of $186.50. Paylocity Holding Corporation has a 1 year low of $150.87 and a 1 year 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, beating analysts' consensus estimates of $1.38 by $0.18. The business 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%. The company's quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, research analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insiders Place Their Bets

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

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.