Raymond James Financial Inc. Boosts Stock Position in Paylocity Holding Corporation $PCTY

Key Points

• Raymond James Financial Inc. increased its stake in Paylocity Holding Corporation by 59.7%, owning 54,605 shares worth approximately $10.23 million as of the latest filing.
• Insider Andrew Cappotelli sold 1,717 shares of Paylocity at an average price of $176.74, resulting in a 12.56% decrease in his holdings.
• Paylocity's recent earnings results showed an EPS of $1.56, surpassing estimates, with revenue up 12.2% year-over-year to $400.74 million.

Raymond James Financial Inc. raised its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 59.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,605 shares of the software maker's stock after purchasing an additional 20,423 shares during the period. Raymond James Financial Inc. owned 0.10% of Paylocity worth $10,230,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PCTY. TCTC Holdings LLC increased its stake in Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Paylocity in the first quarter valued at approximately $29,000. Hughes Financial Services LLC acquired a new stake in shares of Paylocity in the first quarter valued at approximately $48,000. Bayforest Capital Ltd boosted its holdings in shares of Paylocity by 69.1% in the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after acquiring an additional 121 shares during the period. Finally, UMB Bank n.a. boosted its holdings 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 hedge funds and other institutional investors.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction 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 in the company, valued at $2,112,573.22. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 21.91% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a report on Friday, July 18th. UBS Group increased their price objective on Paylocity from $201.00 to $202.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Cantor Fitzgerald initiated coverage on Paylocity in a report on Thursday, August 14th. They issued an "overweight" rating and a $215.00 price objective for the company. Barclays decreased their price objective on Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a report on Monday, July 21st. Finally, Jefferies Financial Group decreased their price target on Paylocity from $235.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $222.71.

Paylocity Price Performance

Paylocity stock traded up $2.39 during midday trading on Thursday, reaching $176.40. The company's stock had a trading volume of 199,566 shares, compared to its average volume of 481,897. 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 stock's 50 day simple moving average is $181.06 and its 200 day simple moving average is $187.41. The firm has a market capitalization of $9.73 billion, a PE ratio of 43.92, a P/E/G ratio of 3.55 and a beta of 0.51.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS 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 during the quarter, compared to the consensus estimate of $388.25 million. During the same quarter last year, the company earned $1.48 earnings per share. Paylocity's quarterly revenue was up 12.2% compared to the same quarter last year. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, equities research analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

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.