Quantbot Technologies LP Acquires Shares of 29,387 Paylocity Holding Corporation $PCTY

Key Points

• Quantbot Technologies LP has acquired 29,387 shares of Paylocity Holding Corporation, valued at approximately $5.5 million, representing a 0.05% ownership stake in the company.
• Paylocity reported an earnings per share of $1.56, exceeding consensus estimates, alongside a revenue increase of 12.2% year-over-year, totaling $400.74 million.
• The stock received positive ratings from several analysts, with target prices ranging from $200.00 to $258.00, contributing to a consensus rating of "Moderate Buy".

Quantbot Technologies LP acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 29,387 shares of the software maker's stock, valued at approximately $5,505,000. Quantbot Technologies LP owned about 0.05% of Paylocity at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System increased its holdings in shares of Paylocity by 7.3% in the first quarter. New York State Teachers Retirement System now owns 40,154 shares of the software maker's stock valued at $7,522,000 after purchasing an additional 2,724 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Paylocity by 41.9% in the first quarter. GAMMA Investing LLC now owns 545 shares of the software maker's stock valued at $102,000 after purchasing an additional 161 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Paylocity by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 6,293 shares of the software maker's stock valued at $1,179,000 after purchasing an additional 383 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Paylocity in the first quarter valued at about $359,000. Finally, UMB Bank n.a. boosted its position in shares of Paylocity by 89.1% in the first quarter. UMB Bank n.a. now owns 467 shares of the software maker's stock valued at $87,000 after acquiring an additional 220 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total value of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares of the company's stock, valued at $2,112,573.22. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 21.91% of the stock is owned by corporate insiders.

Paylocity Stock Up 3.6%

Shares of NASDAQ PCTY opened at $178.18 on Tuesday. 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 market cap of $9.83 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 3.40 and a beta of 0.54. Paylocity Holding Corporation has a 12 month low of $150.87 and a 12 month high of $223.80. The stock has a 50-day moving average price of $181.24 and a two-hundred day moving average price of $189.81.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results 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 return on equity of 22.08% and a net margin of 14.24%. The firm had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The business's quarterly revenue was up 12.2% on a year-over-year basis. As a group, analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Paylocity in a research report on Thursday, August 14th. They issued an "overweight" rating and a $215.00 target price for the company. BMO Capital Markets boosted their target price on shares of Paylocity from $226.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Raymond James Financial set a $220.00 target price on shares of Paylocity and gave the company an "outperform" rating in a research report on Wednesday, July 30th. 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 report on Friday, May 2nd. Finally, Stephens assumed coverage on shares of Paylocity in a research report on Monday, July 21st. They issued an "equal weight" rating and a $200.00 target price for the company. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and a consensus target price 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.

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