Great Lakes Advisors LLC Invests $848,000 in Paylocity Holding Corporation $PCTY

Key Points

• Great Lakes Advisors LLC acquired a new stake in Paylocity Holding Corporation, purchasing 4,526 shares valued at approximately $848,000.
• Analysts have mixed views on Paylocity, with Barclays lowering its price target from $209 to $190, while KeyCorp and BMO Capital Markets raised theirs to $225 and $230, respectively.
• Paylocity reported a 12.2% year-over-year revenue increase with earnings per share of $1.56 for the quarter, exceeding analyst expectations of $1.38.

Great Lakes Advisors LLC acquired a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,526 shares of the software maker's stock, valued at approximately $848,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Fred Alger Management LLC grew its holdings in shares of Paylocity by 3.2% in the 1st quarter. Fred Alger Management LLC now owns 67,620 shares of the software maker's stock worth $12,668,000 after acquiring an additional 2,092 shares during the period. Kestra Investment Management LLC increased its position in shares of Paylocity by 18,673.3% in the first quarter. Kestra Investment Management LLC now owns 5,632 shares of the software maker's stock worth $1,051,000 after acquiring an additional 5,602 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Paylocity in the first quarter valued at about $884,000. Millennium Management LLC lifted its position in Paylocity by 86.8% during the 1st quarter. Millennium Management LLC now owns 211,995 shares of the software maker's stock worth $39,715,000 after acquiring an additional 98,520 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in shares of Paylocity during the first quarter valued at about $13,303,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Stock Performance

Shares of PCTY traded up $0.14 during trading hours on Wednesday, reaching $166.01. 45,778 shares of the company traded hands, compared to its average volume of 484,591. The stock's fifty day moving average is $179.07 and its 200 day moving average is $184.95. The stock has a market cap of $9.16 billion, a P/E ratio of 41.40, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Corporation has a 1-year low of $159.64 and a 1-year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 EPS 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 firm's revenue for the quarter was up 12.2% on a year-over-year basis. 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 anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCTY shares. Raymond James Financial set a $220.00 price target on shares of Paylocity and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. KeyCorp lifted their price target on Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Barclays dropped their target price on Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. UBS Group decreased their price target on shares of Paylocity from $195.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets lifted their price target on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.59.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the sale, the senior vice president directly owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.