Lecap Asset Management Ltd. Acquires New Position in Paylocity Holding Corporation $PCTY

Key Points

• Lecap Asset Management Ltd. has acquired a new position in Paylocity Holding Corporation, purchasing 8,049 shares valued at approximately $1.46 million during the second quarter.
• Several institutional investors have also increased their stakes in Paylocity, with ownership by institutional investors now at 94.76% of the company's stock.
• Recent analyst ratings for Paylocity show a consensus rating of "Moderate Buy" with an average price target of $221.59, reflecting a positive outlook for the stock.

Lecap Asset Management Ltd. purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,049 shares of the software maker's stock, valued at approximately $1,458,000.

Several other large investors have also modified their holdings of PCTY. Associated Banc Corp grew its holdings in shares of Paylocity by 4.5% in the first quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock valued at $226,000 after purchasing an additional 52 shares in the last quarter. Cresset Asset Management LLC lifted its stake in Paylocity by 2.4% in the first quarter. Cresset Asset Management LLC now owns 2,613 shares of the software maker's stock worth $490,000 after acquiring an additional 62 shares during the last quarter. TCTC Holdings LLC lifted its position in shares of Paylocity by 115.9% during 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. Louisiana State Employees Retirement System lifted its position in shares of Paylocity by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the software maker's stock worth $2,286,000 after buying an additional 100 shares during the last quarter. Finally, Securian Asset Management Inc. lifted its position in shares of Paylocity by 3.1% during the 1st quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker's stock worth $629,000 after buying an additional 100 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective 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. Jefferies Financial Group cut their target price on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Zacks Research raised shares of Paylocity from a "strong sell" rating to a "hold" rating in a report on Thursday, September 11th. Stephens initiated coverage on shares of Paylocity in a research note on Monday, July 21st. They issued an "equal weight" rating and a $200.00 price objective on the stock. Finally, Cantor Fitzgerald raised shares of Paylocity to a "strong-buy" rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $221.59.

Paylocity Price Performance

Paylocity stock opened at $153.12 on Thursday. Paylocity Holding Corporation has a 52 week low of $152.17 and a 52 week high of $223.80. 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 firm's 50-day simple moving average is $174.71 and its 200 day simple moving average is $182.80. The firm has a market capitalization of $8.45 billion, a PE ratio of 38.18, a P/E/G ratio of 3.03 and a beta of 0.54.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, topping the consensus estimate of $1.38 by $0.18. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The business had revenue of $400.74 million for the quarter, compared to analyst estimates of $388.25 million. During the same period in the previous year, the firm earned $1.48 EPS. 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. On average, equities research analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal 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.

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