T. Rowe Price Investment Management Inc. Has $746.93 Million Position in Paylocity Holding Corporation $PCTY

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Paylocity Holding Corporation by 0.3%, owning 3,987,037 shares valued at approximately $746 million.
• Paylocity's recent earnings report showed an EPS of $1.56, exceeding expectations, with a 12.2% year-over-year revenue increase, bringing total revenue to $400.74 million.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with a price target average of $222.71.

T. Rowe Price Investment Management Inc. boosted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,987,037 shares of the software maker's stock after purchasing an additional 13,027 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 7.22% of Paylocity worth $746,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. TCTC Holdings LLC grew its position 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 buying an additional 80 shares during the period. USA Financial Formulas acquired a new position in Paylocity in the first quarter valued at approximately $29,000. Hughes Financial Services LLC bought a new position in Paylocity in the first quarter valued at approximately $48,000. Bayforest Capital Ltd grew its holdings in Paylocity by 69.1% during the 1st 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 period. Finally, Johnson Financial Group Inc. acquired a new stake in Paylocity during the 4th quarter worth $72,000. Institutional investors own 94.76% of the company's stock.

Insider Transactions at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction 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 $2,112,573.22. This trade represents a 12.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.91% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCTY. Citigroup cut their price target on Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Piper Sandler reissued an "overweight" rating and issued a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Stifel Nicolaus reduced their target price on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. UBS Group upped their price target on Paylocity from $201.00 to $202.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $270.00 price target on shares of Paylocity in a research report on Tuesday, April 29th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $222.71.

Paylocity Stock Up 2.4%

Shares of Paylocity stock traded up $4.29 on Friday, reaching $182.31. 321,889 shares of the company were exchanged, compared to its average volume of 611,906. 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 company has a 50-day moving average of $181.00 and a 200 day moving average of $189.28. Paylocity Holding Corporation has a one year low of $150.87 and a one year high of $223.80. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 45.46, a PEG ratio of 3.52 and a beta of 0.54.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The company had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. During the same quarter last year, the firm posted $1.48 EPS. The company's quarterly revenue 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, equities research analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share 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.