Ameriprise Financial Inc. Raises Stake in Paylocity Holding Corporation $PCTY

Key Points

• Ameriprise Financial Inc. increased its stake in Paylocity Holding Corporation by 47.3% during the first quarter, now owning approximately 0.78% of the company, valued at $80.4 million.
• Paylocity reported earnings per share (EPS) of $1.56 for the most recent quarter, surpassing analysts' expectations and marking a 12.2% year-over-year revenue growth.
• Thirteen analysts have rated Paylocity with a Buy rating, indicating positive sentiment and an average price target of $222.71 for the stock.

Ameriprise Financial Inc. grew its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 47.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 429,166 shares of the software maker's stock after purchasing an additional 137,726 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.78% of Paylocity worth $80,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Martingale Asset Management L P raised its holdings in Paylocity by 269.5% during the first quarter. Martingale Asset Management L P now owns 5,144 shares of the software maker's stock worth $964,000 after purchasing an additional 3,752 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Paylocity by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,287,514 shares of the software maker's stock worth $803,224,000 after purchasing an additional 141,705 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Paylocity by 0.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,987,037 shares of the software maker's stock worth $746,932,000 after purchasing an additional 13,027 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Paylocity during the first quarter worth approximately $505,000. Finally, Hsbc Holdings PLC acquired a new stake in Paylocity during the first quarter worth approximately $1,802,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Insiders Place Their Bets

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 value of $303,462.58. Following the transaction, the senior vice president directly owned 11,953 shares in the company, valued at $2,112,573.22. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 21.91% of the stock is currently owned by company insiders.

Paylocity Stock Performance

NASDAQ:PCTY traded down $1.50 during midday trading on Thursday, reaching $179.57. The stock had a trading volume of 454,227 shares, compared to its average volume of 588,579. The firm has a fifty day simple moving average of $181.18 and a two-hundred day simple moving average of $188.45. Paylocity Holding Corporation has a 12-month low of $150.87 and a 12-month high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The stock has a market cap of $9.91 billion, a P/E ratio of 44.78, a P/E/G ratio of 3.58 and a beta of 0.54.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 earnings per share 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 firm had revenue of $400.74 million for the quarter, compared to analyst estimates of $388.25 million. During the same period last year, the firm posted $1.48 EPS. Paylocity'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 analysts expect that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Raymond James Financial set a $220.00 price objective on shares of Paylocity and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Citigroup lowered their target price on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Needham & Company LLC restated a "buy" rating and set a $250.00 target price on shares of Paylocity in a research report on Friday, July 18th. Stephens started coverage on shares of Paylocity in a research report on Monday, July 21st. They set an "equal weight" rating and a $200.00 target price on the stock. Finally, Barclays lowered their target price on shares of Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a research report on Monday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and a consensus price target of $222.71.

About Paylocity

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.