Oppenheimer Asset Management Inc. Decreases Position in Paylocity Holding Corporation $PCTY

Key Points

• Oppenheimer Asset Management reduced its stake in Paylocity by 33.7%, selling 14,548 shares and finishing the quarter with 28,581 shares worth about $4.36 million.
• Paylocity beat expectations in its most recent quarter with $1.85 EPS (vs. $1.57 expected) and revenue of $416.13 million, up 10.4% year‑over‑year.
• Analyst sentiment is mixed: the stock carries a consensus “Moderate Buy” with a $172.72 average target, though several firms have recently trimmed target prices and ratings.

Oppenheimer Asset Management Inc. decreased its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 33.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,581 shares of the software maker's stock after selling 14,548 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.05% of Paylocity worth $4,359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D boosted its position in shares of Paylocity by 2.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 15,602 shares of the software maker's stock worth $2,379,000 after buying an additional 343 shares during the period. Interchange Capital Partners LLC boosted its position in shares of Paylocity by 18.1% in the fourth quarter. Interchange Capital Partners LLC now owns 2,085 shares of the software maker's stock worth $318,000 after buying an additional 319 shares during the period. Certuity LLC boosted its position in shares of Paylocity by 7.5% in the fourth quarter. Certuity LLC now owns 2,564 shares of the software maker's stock worth $391,000 after buying an additional 179 shares during the period. M&T Bank Corp purchased a new stake in shares of Paylocity in the fourth quarter worth about $239,000. Finally, Comerica Bank boosted its position in shares of Paylocity by 36.3% in the fourth quarter. Comerica Bank now owns 46,064 shares of the software maker's stock worth $7,025,000 after buying an additional 12,261 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Trading Up 3.9%

Shares of PCTY opened at $109.60 on Friday. The company has a market capitalization of $5.91 billion, a P/E ratio of 25.79, a P/E/G ratio of 3.17 and a beta of 0.49. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $201.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day moving average price of $106.90 and a 200 day moving average price of $129.91.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.28. The firm had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.Paylocity's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.52 earnings per share. Sell-side analysts forecast that Paylocity Holding Corporation will post 5.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PCTY shares. Wall Street Zen downgraded Paylocity from a "buy" rating to a "hold" rating in a research report on Sunday, February 22nd. Barclays decreased their target price on Paylocity from $146.00 to $120.00 and set an "equal weight" rating for the company in a research report on Monday, April 20th. UBS Group decreased their target price on Paylocity from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, February 6th. BMO Capital Markets decreased their target price on Paylocity from $185.00 to $150.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. Finally, Citigroup reissued an "outperform" rating on shares of Paylocity in a report on Friday, February 6th. Fourteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus target price of $172.72.

Paylocity Company Profile

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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