Walleye Capital LLC Cuts Stock Holdings in Paylocity Holding Corporation $PCTY

Key Points

• Walleye Capital LLC reduced its position in Paylocity Holding Corporation by 53.8%, now owning 14,047 shares worth approximately $2.63 million.
• In the latest earnings report, Paylocity surpassed expectations with $1.56 earnings per share and revenue of $400.74 million, marking a 12.2% increase year-over-year.
• Analysts have varied price targets for Paylocity stock; Stifel Nicolaus lowered its target to $235, while Barclay's target dropped to $190, with a consensus of a "Moderate Buy" rating.

Walleye Capital LLC lessened its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 53.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,047 shares of the software maker's stock after selling 16,389 shares during the quarter. Walleye Capital LLC's holdings in Paylocity were worth $2,632,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PCTY. Vanguard Group Inc. raised its holdings in Paylocity by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock valued at $807,966,000 after buying an additional 283,430 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in Paylocity during the 1st quarter worth approximately $37,085,000. American Century Companies Inc. raised its holdings in Paylocity by 47.0% during the 1st quarter. American Century Companies Inc. now owns 514,194 shares of the software maker's stock worth $96,329,000 after purchasing an additional 164,397 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Paylocity by 3.4% during the 1st 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 during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Paylocity by 47.3% during the 1st quarter. Ameriprise Financial Inc. now owns 429,166 shares of the software maker's stock worth $80,404,000 after purchasing an additional 137,726 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Insider Transactions 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 value 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 approximately $2,112,573.22. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 21.91% of the company's stock.

Paylocity Trading Down 0.2%

Shares of PCTY stock traded down $0.34 during trading hours on Friday, hitting $179.23. 503,759 shares of the company were exchanged, compared to its average volume of 587,299. The firm has a market cap of $9.89 billion, a P/E ratio of 44.70, a P/E/G ratio of 3.55 and a beta of 0.54. Paylocity Holding Corporation has a fifty-two week low of $150.87 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50 day simple moving average of $181.22 and a two-hundred day simple moving average of $188.06.

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, topping the consensus estimate 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. Equities analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PCTY shares. Stephens started coverage on shares of Paylocity in a report on Monday, July 21st. They set an "equal weight" rating and a $200.00 price target for the company. Cantor Fitzgerald started coverage on shares of Paylocity in a report on Thursday, August 14th. They set an "overweight" rating and a $215.00 price target for the company. KeyCorp raised their price target on shares of Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. BMO Capital Markets raised their price target on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial set a $220.00 price target on shares of Paylocity and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.