Hsbc Holdings PLC Takes $1.80 Million Position in Paylocity Holding Corporation $PCTY

Key Points

• HSBC Holdings PLC acquired a new stake in Paylocity Holding Corporation, purchasing 9,705 shares valued at approximately $1.8 million in the first quarter.
• Paylocity reported fiscal performance that exceeded analysts' expectations, with earnings per share of $1.56 and revenue of $400.74 million, a 12.2% increase from the previous year.
• Numerous research analysts have set optimistic price targets for Paylocity, with the average target at $222.71 and a general consensus rating of "Moderate Buy".

Hsbc Holdings PLC purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,705 shares of the software maker's stock, valued at approximately $1,802,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Paylocity by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock valued at $807,966,000 after purchasing an additional 283,430 shares during the last quarter. American Century Companies Inc. raised its stake in Paylocity by 47.0% during the 1st quarter. American Century Companies Inc. now owns 514,194 shares of the software maker's stock valued at $96,329,000 after purchasing an additional 164,397 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Paylocity by 4.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 487,593 shares of the software maker's stock valued at $97,260,000 after purchasing an additional 22,655 shares during the last quarter. Northern Trust Corp raised its stake in Paylocity by 1.8% during the 1st quarter. Northern Trust Corp now owns 469,566 shares of the software maker's stock valued at $87,968,000 after purchasing an additional 8,349 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Paylocity by 34.5% during the 4th quarter. Point72 Asset Management L.P. now owns 416,531 shares of the software maker's stock valued at $83,085,000 after purchasing an additional 106,770 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCTY has been the subject of several research analyst reports. KeyCorp upped their target price on shares of Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Citigroup cut their target price on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Barclays decreased their price target on shares of Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Monday, July 21st. Jefferies Financial Group decreased their price target on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Stephens began coverage on shares of Paylocity in a research note on Monday, July 21st. They set an "equal weight" rating and a $200.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus target price of $222.71.

Insider Buying and Selling

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

Paylocity Price Performance

Paylocity stock traded down $0.53 during mid-day trading on Wednesday, hitting $174.01. 619,452 shares of the company were exchanged, compared to its average volume of 552,953. 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 business has a fifty day moving average of $181.06 and a 200 day moving average of $187.41. Paylocity Holding Corporation has a 1-year low of $150.87 and a 1-year high of $223.80. The company has a market capitalization of $9.60 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 3.55 and a beta of 0.51.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.18. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The firm had revenue of $400.74 million during the quarter, compared to analyst estimates of $388.25 million. During the same period in the prior year, the company posted $1.48 earnings per share. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, sell-side analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

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.