Ranger Investment Management L.P. Buys Shares of 171,262 Paylocity Holding Corporation $PCTY

Key Points

• Ranger Investment Management initiated a position in Paylocity by purchasing 171,262 shares worth approximately $17.9 million, giving it a 0.32% stake. Institutional investors collectively own 94.76% of the company.
• Paylocity exceeded quarterly expectations, reporting adjusted EPS of $1.84 versus the $1.62 consensus and revenue of $444.7 million versus $431.5 million, with revenue growing 11% year over year.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $160.53, although some firms recently downgraded the stock or reduced their targets. The shares opened at $153.34 and have traded between $92.99 and $182.83 over the past year.

Ranger Investment Management L.P. bought a new position in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 171,262 shares of the software maker's stock, valued at approximately $17,902,000. Ranger Investment Management L.P. owned 0.32% of Paylocity at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Optiver Holding B.V. grew its holdings in Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock worth $26,000 after acquiring an additional 237 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Paylocity in the 2nd quarter valued at about $27,000. Basecamp Wealth Advisors LLC raised its holdings in shares of Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock valued at $28,000 after purchasing an additional 255 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Paylocity in the 4th quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Paylocity by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock valued at $36,000 after purchasing an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

More Paylocity News

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, indicating potential upside from the referenced share price. The move signals continued confidence in Paylocity’s growth outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day average, forming a bullish “golden cross.” This technical signal could attract momentum-focused investors and reinforce the stock’s ongoing uptrend. Zacks golden cross analysis
• Positive Sentiment: Recent coverage highlighted the extension of Paylocity’s uptrend after a strong quarterly report. The company reported adjusted earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.7 million versus expectations of $431.5 million, with revenue up 11% year over year. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz sold a combined 19,164 shares worth approximately $2.87 million. Because the transactions were executed under pre-arranged Rule 10b5-1 plans, they are a limited signal of near-term pessimism. Sarowitz still owns more than 4.48 million shares, and the other executives retain substantial positions. SEC insider transaction filing

Analyst Ratings Changes

PCTY has been the subject of a number of recent research reports. Zacks Research downgraded shares of Paylocity from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Stephens dropped their target price on Paylocity from $160.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. Truist Financial cut their price target on Paylocity from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Citigroup reiterated a "buy" rating on shares of Paylocity in a report on Thursday, August 6th. Finally, BTIG Research boosted their price target on Paylocity from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $160.53.

Paylocity Stock Performance

NASDAQ PCTY opened at $153.34 on Monday. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $182.83. The company has a 50 day moving average price of $126.14 and a 200 day moving average price of $115.11. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The firm has a market cap of $8.14 billion, a PE ratio of 30.98 and a beta of 0.47.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.22. The company had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. Paylocity's revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $1.56 earnings per share. As a group, sell-side analysts forecast that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 2,550 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total value of $382,066.50. Following the completion of the sale, the senior vice president directly owned 44,329 shares in the company, valued at approximately $6,641,814.07. This trade represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Glenn sold 3,345 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total value of $500,913.75. Following the completion of the sale, the chief financial officer directly owned 122,563 shares of the company's stock, valued at approximately $18,353,809.25. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,300 shares of company stock worth $4,553,607 over the last quarter. Company insiders own 19.40% of the company's stock.

Paylocity Profile

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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