Paylocity Holding Corporation $PCTY Shares Sold by Aquatic Capital Management LLC

Key Points

• Aquatic Capital Management reduced its Paylocity stake by 25.5%, selling 10,011 shares to hold 29,233 shares worth about $4.66 million, and institutional investors now own 94.76% of the stock.
• Paylocity recently beat quarterly estimates with EPS of $1.85 vs. $1.57 expected and revenue of $416.13 million, up 10.4% year-over-year.
• Analyst sentiment is mixed but tilts positive with a MarketBeat consensus rating of "Moderate Buy" and a consensus target of $180.05 amid several recent price-target cuts; the stock has a $5.93 billion market cap and a 1-year range of $100.50–$201.97.

Aquatic Capital Management LLC lessened its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 25.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,233 shares of the software maker's stock after selling 10,011 shares during the quarter. Aquatic Capital Management LLC owned 0.05% of Paylocity worth $4,656,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PCTY. Alliancebernstein L.P. increased its holdings in Paylocity by 0.7% in the 3rd quarter. Alliancebernstein L.P. now owns 52,460 shares of the software maker's stock worth $8,355,000 after buying an additional 358 shares during the period. Creative Planning lifted its stake in Paylocity by 114.5% during the 3rd quarter. Creative Planning now owns 5,115 shares of the software maker's stock valued at $815,000 after acquiring an additional 2,730 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Paylocity by 52.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 164,454 shares of the software maker's stock valued at $26,193,000 after acquiring an additional 56,401 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Paylocity by 1,343.9% in the 3rd quarter. Lazard Asset Management LLC now owns 8,779 shares of the software maker's stock valued at $1,398,000 after acquiring an additional 8,171 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Paylocity by 19.8% in the third quarter. AQR Capital Management LLC now owns 538,986 shares of the software maker's stock worth $85,753,000 after acquiring an additional 89,051 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Price Performance

Paylocity stock opened at $110.00 on Tuesday. The stock has a market capitalization of $5.93 billion, a P/E ratio of 25.88, a P/E/G ratio of 3.14 and a beta of 0.58. The company's fifty day moving average price is $124.54 and its 200 day moving average price is $143.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. Paylocity Holding Corporation has a 1 year low of $100.50 and a 1 year high of $201.97.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. During the same period last year, the firm posted $1.52 earnings per share. The company's revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCTY has been the subject of several analyst reports. BTIG Research decreased their price objective on Paylocity from $180.00 to $150.00 and set a "buy" rating for the company in a report on Friday, February 6th. Weiss Ratings cut Paylocity from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, January 27th. KeyCorp decreased their price target on Paylocity from $225.00 to $190.00 and set an "overweight" rating for the company in a report on Friday, February 6th. Stephens set a $160.00 price objective on Paylocity in a research report on Friday, January 16th. Finally, Wall Street Zen cut shares of Paylocity from a "buy" rating to a "hold" rating in a research note on Sunday, February 22nd. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $180.05.

About Paylocity

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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