Next Century Growth Investors LLC Increases Stake in Paylocity Holding Corporation $PCTY

Key Points

• Next Century Growth Investors LLC increased its stake in Paylocity by 36.2%, holding 41,193 shares worth approximately $7.7 million as of their latest SEC filing.
• Wall Street analysts remain optimistic about Paylocity, with most rating it a "Buy" and a consensus price target of $222.71.
• Paylocity reported a 12.2% year-over-year revenue increase, with earnings of $1.56 per share, exceeding analysts' expectations by $0.18.

Next Century Growth Investors LLC boosted its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 36.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,193 shares of the software maker's stock after acquiring an additional 10,954 shares during the period. Next Century Growth Investors LLC owned 0.07% of Paylocity worth $7,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC lifted its holdings 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 acquiring an additional 80 shares during the period. USA Financial Formulas acquired a new stake in shares of Paylocity during the first quarter worth approximately $29,000. Hughes Financial Services LLC acquired a new position in Paylocity in the first quarter worth $48,000. Bayforest Capital Ltd boosted its holdings in Paylocity by 69.1% in the first 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 acquired a new position in Paylocity in the first quarter worth $61,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. BMO Capital Markets boosted their price target on shares of Paylocity from $226.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Stifel Nicolaus reduced their price target on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Citigroup reduced their price target on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating for the company in a report on Monday, July 21st. Finally, Cantor Fitzgerald assumed coverage on shares of Paylocity in a report on Thursday, August 14th. They set an "overweight" rating and a $215.00 price target for the company. Thirteen 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.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus target price of $222.71.

Paylocity Stock Up 2.2%

PCTY stock opened at $181.07 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $9.99 billion, a P/E ratio of 45.15, a P/E/G ratio of 3.51 and a beta of 0.54. The company's 50 day simple moving average is $181.11 and its 200-day simple moving average is $188.67. Paylocity Holding Corporation has a 52-week low of $150.87 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, topping the consensus estimate of $1.38 by $0.18. The business had revenue of $400.74 million during the quarter, compared to analysts' expectations 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 period last year, the company posted $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 anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Insider Activity at Paylocity

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 value of $303,462.58. Following the completion of the sale, the senior vice president owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 21.91% of the company's stock.

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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