Paylocity Holding Corporation $PCTY Shares Bought by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P significantly increased its stake in Paylocity Holding Corporation by 269.5% in the first quarter, acquiring an additional 3,752 shares valued at $964,000.
• Various institutional investors, including Vanguard Group Inc. and American Century Companies Inc., have also increased their holdings in Paylocity during the same period.
• Paylocity's stock is rated as a "Moderate Buy" by analysts, with an average target price of $222.71, reflecting positive sentiment towards its growth prospects.

Martingale Asset Management L P lifted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 269.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,144 shares of the software maker's stock after purchasing an additional 3,752 shares during the quarter. Martingale Asset Management L P's holdings in Paylocity were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Associated Banc Corp grew its holdings in shares of Paylocity by 4.5% during the 1st quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock worth $226,000 after purchasing an additional 52 shares during the period. Cresset Asset Management LLC lifted its stake in Paylocity by 2.4% during the 1st 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 in the last quarter. TCTC Holdings LLC lifted its stake in 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 acquiring an additional 80 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in 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 acquiring an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. lifted its stake in 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 acquiring an additional 100 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCTY has been the topic of several research reports. Cantor Fitzgerald initiated coverage on Paylocity in a research note on Thursday, August 14th. They set an "overweight" rating and a $215.00 target price on the stock. Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Citigroup decreased their price target on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating for the company in a research report on Monday, July 21st. KeyCorp raised their price target on shares of Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus decreased their price target on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $222.71.

Insiders Place Their Bets

In related 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.91% of the stock is currently owned by insiders.

Paylocity Stock Down 0.8%

PCTY stock traded down $1.50 during trading on Thursday, hitting $179.57. 454,227 shares of the company's stock were exchanged, compared to its average volume of 483,079. The business has a 50-day moving average price of $181.11 and a two-hundred day moving average price of $188.67. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 3.51 and a beta of 0.54. Paylocity Holding Corporation has a 52-week low of $150.87 and a 52-week high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13.

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

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.