Paylocity Holding Corporation $PCTY Shares Bought by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 86.8%, owning 211,995 shares valued at approximately $39.7 million.
• Paylocity posted impressive earnings with $1.56 EPS for the last quarter, exceeding analyst expectations of $1.38 and showing a revenue increase of 12.2% year-over-year.
• Thirteen investment analysts have rated Paylocity with a Buy, while the company has a consensus price target of $222.71.

Millennium Management LLC lifted its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 86.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 211,995 shares of the software maker's stock after purchasing an additional 98,520 shares during the period. Millennium Management LLC owned approximately 0.38% of Paylocity worth $39,715,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC boosted its position in shares of 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 buying an additional 80 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Paylocity in the first quarter valued at approximately $29,000. Hughes Financial Services LLC purchased a new position in shares of Paylocity during the first quarter valued at approximately $48,000. Bayforest Capital Ltd boosted its position in Paylocity by 69.1% during the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock worth $55,000 after acquiring an additional 121 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in Paylocity during the first quarter worth approximately $61,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the transaction, the senior vice president owned 11,953 shares in the company, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stephens assumed coverage on Paylocity in a report on Monday, July 21st. They issued an "equal weight" rating and a $200.00 price target for the company. KeyCorp upped their target price on Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. UBS Group raised their price target on Paylocity from $201.00 to $202.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Raymond James Financial set a $220.00 price target on Paylocity and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets upped their price objective on shares of Paylocity from $226.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $222.71.

Paylocity Stock Performance

NASDAQ PCTY opened at $172.04 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Corporation has a 1-year low of $152.95 and a 1-year high of $223.80. The firm has a market capitalization of $9.49 billion, a P/E ratio of 42.90, a P/E/G ratio of 3.42 and a beta of 0.51. The business's 50-day simple moving average is $180.56 and its 200-day simple moving average is $186.18.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.18. The firm 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 company's revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Equities analysts predict 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.

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