Magnetar Financial LLC Purchases New Position in Paylocity Holding Corporation $PCTY

Key Points

• Magnetar Financial LLC has acquired a new stake in Paylocity Holding Corporation valued at approximately $4.7 million by purchasing 25,096 shares.
• Paylocity's quarterly earnings surpassed analysts' expectations with an EPS of $1.56, up from $1.48 the previous year, driven by a 12.2% increase in revenue to $400.74 million.
• Thirteen investment analysts have rated Paylocity as a Moderate Buy, with an average price target of $222.71 despite varying price assessments from firms like Stifel Nicolaus and BMO Capital Markets.

Magnetar Financial LLC purchased a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 25,096 shares of the software maker's stock, valued at approximately $4,701,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Associated Banc Corp raised its holdings in Paylocity by 4.5% during the first quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock valued at $226,000 after acquiring an additional 52 shares during the period. Cresset Asset Management LLC raised its holdings in Paylocity by 2.4% during the first quarter. Cresset Asset Management LLC now owns 2,613 shares of the software maker's stock valued at $490,000 after acquiring an additional 62 shares during the period. TCTC Holdings LLC raised its holdings in Paylocity by 115.9% during the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after acquiring an additional 80 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Paylocity by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the software maker's stock valued at $2,286,000 after purchasing an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. grew its position in shares of Paylocity by 3.1% during the first quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker's stock valued at $629,000 after purchasing an additional 100 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Trading Up 0.9%

Shares of NASDAQ:PCTY traded up $1.54 during trading hours on Thursday, hitting $175.55. 473,237 shares of the company's stock traded hands, compared to its average volume of 511,976. Paylocity Holding Corporation has a 1 year low of $150.87 and a 1 year high of $223.80. The business has a fifty day moving average price of $181.03 and a 200-day moving average price of $187.12. The firm has a market capitalization of $9.68 billion, a P/E ratio of 43.78, a price-to-earnings-growth ratio of 3.44 and a beta of 0.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $400.74 million during the quarter, compared to analyst estimates of $388.25 million. During the same quarter in the previous year, the business earned $1.48 earnings per share. The company'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. Equities analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $250.00 price objective on shares of Paylocity in a research report on Friday, July 18th. Citigroup cut their price objective on Paylocity from $225.00 to $218.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Jefferies Financial Group cut their price objective on Paylocity from $235.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Raymond James Financial set a $220.00 price objective on Paylocity and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, KeyCorp raised their price objective on Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Paylocity has a consensus rating of "Moderate Buy" and a consensus price target of $222.71.

Insider Activity

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the business's 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 owned 11,953 shares in the company, valued at $2,112,573.22. The trade was a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 21.91% of the stock is owned by company insiders.

Paylocity Profile

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.