Harel Insurance Investments & Financial Services Ltd. Raises Holdings in Paylocity Holding Corporation $PCTY

Key Points

• Harel Insurance raised its Paylocity stake by 94.7% in Q4 to 53,964 shares (about 0.10% of the company), valued at roughly $8.23 million.
• Paylocity beat expectations for the quarter with EPS $1.85 versus $1.57 expected and revenue $416.13M (up 10.4% year-over-year), reporting a net margin of 14.19% and ROE of 23.44%.
• Analysts maintain a Moderate Buy consensus with an average price target of $172.72 despite several firms trimming targets; the stock trades near $107.68 and has a $5.8 billion market cap.

Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 94.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,964 shares of the software maker's stock after acquiring an additional 26,251 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned approximately 0.10% of Paylocity worth $8,230,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. grew its position in Paylocity by 17.3% during the fourth quarter. Van Berkom & Associates Inc. now owns 523,342 shares of the software maker's stock valued at $79,810,000 after acquiring an additional 77,127 shares during the period. Horizon Investments LLC grew its position in Paylocity by 113.8% during the fourth quarter. Horizon Investments LLC now owns 618 shares of the software maker's stock valued at $94,000 after acquiring an additional 329 shares during the period. Fifth Third Bancorp grew its position in Paylocity by 90.1% during the fourth quarter. Fifth Third Bancorp now owns 5,332 shares of the software maker's stock valued at $813,000 after acquiring an additional 2,527 shares during the period. Conestoga Capital Advisors LLC grew its position in Paylocity by 12.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 141,220 shares of the software maker's stock valued at $21,536,000 after acquiring an additional 15,357 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in Paylocity by 2.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 15,602 shares of the software maker's stock valued at $2,379,000 after acquiring an additional 343 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $107.68 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $201.97. The company's 50-day simple moving average is $106.94 and its 200-day simple moving average is $129.46. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 3.15 and a beta of 0.49.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business had revenue of $416.13 million for the quarter, compared to analysts' expectations of $408.37 million. During the same quarter last year, the company posted $1.52 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts anticipate that Paylocity Holding Corporation will post 5.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCTY has been the subject of a number of research reports. Truist Financial lowered their price target on Paylocity from $240.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, February 6th. Wall Street Zen downgraded Paylocity from a "buy" rating to a "hold" rating in a research report on Sunday, February 22nd. TD Cowen reissued a "buy" rating on shares of Paylocity in a research report on Friday, February 6th. BTIG Research lowered their price target on Paylocity from $180.00 to $150.00 and set a "buy" rating for the company in a report on Friday, February 6th. Finally, Citizens Jmp lowered their price target on Paylocity from $245.00 to $170.00 and set a "market outperform" rating for the company in a report on Friday, February 6th. Fourteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $172.72.

Paylocity Company Profile

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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