Ieq Capital LLC Invests $490,000 in Paylocity Holding Corporation $PCTY

Key Points

• Ieq Capital LLC has invested approximately $490,000 in Paylocity Holding Corporation, acquiring 2,614 shares in the 1st quarter.
• Paylocity's recent earnings report revealed an EPS of $1.56, exceeding analysts' expectations, with revenue for the quarter at $400.74 million, up 12.2% year-over-year.
• Thirteen research analysts have rated Paylocity's stock as a "Buy"**, while four have issued a Hold rating, indicating strong market confidence in the company's performance.

Ieq Capital LLC purchased a new position in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,614 shares of the software maker's stock, valued at approximately $490,000.

A number of other hedge funds have also recently added to or reduced their stakes in PCTY. TCTC Holdings LLC boosted its stake in Paylocity by 115.9% in the 1st 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 last quarter. USA Financial Formulas purchased a new position in shares of Paylocity in the 1st quarter worth about $29,000. Hughes Financial Services LLC purchased a new position in shares of Paylocity in the 1st quarter worth about $48,000. Bayforest Capital Ltd raised its holdings in shares of Paylocity by 69.1% in the 1st 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 period. Finally, SVB Wealth LLC purchased a new position in shares of Paylocity in the 1st quarter worth about $61,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PCTY shares. Barclays cut their price objective on Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. KeyCorp raised their price objective on Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Jefferies Financial Group cut their price objective on Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. BMO Capital Markets raised their price objective on Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial set a $220.00 price objective on Paylocity and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Paylocity presently has an average rating of "Moderate Buy" and an average price target of $222.71.

Paylocity Stock Down 0.7%

Shares of NASDAQ:PCTY traded down $1.15 during mid-day trading on Friday, hitting $174.40. 494,145 shares of the company traded hands, compared to its average volume of 496,447. The firm has a market cap of $9.62 billion, a P/E ratio of 43.49, a PEG ratio of 3.45 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 52-week low of $150.87 and a 52-week high of $223.80. The firm's 50 day simple moving average is $180.93 and its 200 day simple moving average is $186.50.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, beating the consensus estimate of $1.38 by $0.18. The business had revenue of $400.74 million for the quarter, compared to the consensus estimate of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The company's revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, equities analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the transaction, the senior vice president directly owned 11,953 shares in the company, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company 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.