Fred Alger Management LLC Buys 2,092 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Fred Alger Management LLC raised its holdings in Paylocity by 3.2%, owning 67,620 shares valued at approximately $12.67 million as of the recent reporting period.
• Several institutional investors, including the New York State Teachers Retirement System and GAMMA Investing LLC, increased their stakes in Paylocity during the first quarter.
• Paylocity's stock has a current average price target of $222.71, with 13 analysts rating it as a Buy, suggesting positive growth prospects.

Fred Alger Management LLC raised its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,620 shares of the software maker's stock after acquiring an additional 2,092 shares during the period. Fred Alger Management LLC owned approximately 0.12% of Paylocity worth $12,668,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PCTY. Vanguard Group Inc. grew its stake in shares of Paylocity by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock worth $807,966,000 after acquiring an additional 283,430 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Paylocity during the first quarter valued at $37,085,000. American Century Companies Inc. boosted its position in shares of Paylocity by 47.0% during the first quarter. American Century Companies Inc. now owns 514,194 shares of the software maker's stock valued at $96,329,000 after buying an additional 164,397 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 valued at $803,224,000 after buying an additional 141,705 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Paylocity by 47.3% during the first quarter. Ameriprise Financial Inc. now owns 429,166 shares of the software maker's stock valued at $80,404,000 after buying an additional 137,726 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Performance

PCTY stock traded down $2.25 during trading on Friday, reaching $169.68. The stock had a trading volume of 423,119 shares, compared to its average volume of 483,309. Paylocity Holding Corporation has a 52 week low of $154.91 and a 52 week high of $223.80. The stock's 50 day moving average is $179.79 and its two-hundred day moving average is $185.35. 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 firm has a market cap of $9.36 billion, a PE ratio of 42.31, a PEG ratio of 3.23 and a beta of 0.51.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results 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 return on equity of 22.08% and a net margin of 14.24%.The company had revenue of $400.74 million for the quarter, compared to the consensus estimate of $388.25 million. During the same quarter in the prior year, the company earned $1.48 earnings per share. Paylocity's 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. As a group, equities analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $176.74, for a total value of $303,462.58. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays dropped their price objective on Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a research report on Monday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price objective on shares of Paylocity in a research report on Friday, July 18th. Cantor Fitzgerald raised Paylocity to a "strong-buy" rating in a research report on Thursday. Raymond James Financial set a $220.00 price objective on Paylocity and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Citigroup dropped their price objective on Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $222.71.

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.