Canada Pension Plan Investment Board Raises Holdings in Paylocity Holding Corporation $PCTY

Key Points

• The Canada Pension Plan Investment Board increased its stake in Paylocity Holding Corporation by 43%, owning approximately 0.15% of the company worth about $15.46 million.
• Paylocity reported earnings of $1.56 per share, surpassing estimates and achieving a 12.2% year-over-year revenue increase, with total revenue for the quarter reaching $400.74 million.
• Analysts have a consensus rating of "Moderate Buy" on Paylocity, with an average price target of $222.71, reflecting optimism about the company's financial performance and growth prospects.

Canada Pension Plan Investment Board grew its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 43.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,500 shares of the software maker's stock after buying an additional 24,800 shares during the period. Canada Pension Plan Investment Board owned 0.15% of Paylocity worth $15,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. TCTC Holdings LLC grew its holdings in shares of Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after purchasing an additional 80 shares during the period. USA Financial Formulas purchased a new stake in shares of Paylocity in the first quarter valued at about $29,000. Hughes Financial Services LLC purchased a new stake in shares of Paylocity in the first quarter valued at about $48,000. Bayforest Capital Ltd grew its holdings in shares of Paylocity by 69.1% in the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after purchasing an additional 121 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Paylocity in the first quarter valued at about $61,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction on Monday, June 23rd. The shares were 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 in the company, valued at $2,112,573.22. This represents a 12.56% decrease in their position. 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 company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PCTY shares. Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Stephens assumed coverage on shares of Paylocity in a research note on Monday, July 21st. They set an "equal weight" rating and a $200.00 target price for the company. BMO Capital Markets boosted their target price on Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald began coverage on shares of Paylocity in a research note on Thursday, August 14th. They issued an "overweight" rating and a $215.00 price target for the company. Finally, UBS Group lifted their price target on shares of Paylocity from $201.00 to $202.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $222.71.

Paylocity Stock Performance

Shares of Paylocity stock traded down $1.15 on Friday, hitting $174.40. The stock had a trading volume of 494,145 shares, compared to its average volume of 496,447. 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. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 43.49, a P/E/G ratio of 3.48 and a beta of 0.51. The company's 50 day moving average price is $180.93 and its 200 day moving average price is $186.82.

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

Paylocity Company 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.