Merit Financial Group LLC Boosts Position in Paylocity Holding Corporation $PCTY

Key Points

• Merit Financial Group LLC increased its stake in Paylocity Holding Corporation (PCTY) by 6.1% in the second quarter, amounting to approximately $5.54 million worth of shares.
• Paylocity reported a quarterly earnings per share of $1.56, exceeding the consensus estimate by $0.18 and showing a 12.2% increase in revenue year-over-year.
• Several research firms have set a consensus target price of $221.59 for Paylocity, with the majority of analysts rating the stock as a Moderate Buy.

Merit Financial Group LLC increased its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,581 shares of the software maker's stock after acquiring an additional 1,745 shares during the quarter. Merit Financial Group LLC owned about 0.06% of Paylocity worth $5,541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PCTY. TCTC Holdings LLC raised its holdings 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 purchasing an additional 80 shares in the last quarter. USA Financial Formulas bought a new position in Paylocity in the first quarter worth about $29,000. Hughes Financial Services LLC purchased a new stake in Paylocity in the first quarter worth about $48,000. Bayforest Capital Ltd boosted its position in Paylocity by 69.1% during the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after acquiring an additional 121 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Paylocity during the 1st quarter worth approximately $61,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Up 0.5%

Shares of Paylocity stock opened at $156.42 on Tuesday. The company has a 50-day simple moving average of $172.81 and a two-hundred day simple moving average of $181.95. The stock has a market capitalization of $8.63 billion, a PE ratio of 39.01, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. Paylocity Holding Corporation has a 52-week low of $151.71 and a 52-week high of $223.80. 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 (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.18. The company had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The firm's quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PCTY. Raymond James Financial set a $220.00 price target on Paylocity and gave the company an "outperform" rating in a research report on Wednesday, July 30th. KeyCorp boosted their target price on shares of Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Cowen reiterated a "buy" rating on shares of Paylocity in a research note on Monday. Zacks Research raised shares of Paylocity from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 11th. Finally, BMO Capital Markets upped their price objective on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $221.59.

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.

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