Riverbridge Partners LLC Sells 78,413 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Riverbridge Partners LLC has reduced its holdings in Paylocity Holding Corporation by 11.2%, selling 78,413 shares and now owns approximately 621,949 shares, making it the 15th largest position in their portfolio.
• Paylocity reported a quarterly EPS of $1.56, surpassing analyst expectations, with revenue totaling $400.74 million, marking a 12.2% year-over-year growth.
• The stock is currently rated as a Moderate Buy by analysts, with a range of price targets from $190.00 to $250.00 following recent rating adjustments by several firms.

Riverbridge Partners LLC lowered its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 11.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 621,949 shares of the software maker's stock after selling 78,413 shares during the quarter. Paylocity makes up approximately 1.8% of Riverbridge Partners LLC's investment portfolio, making the stock its 15th largest position. Riverbridge Partners LLC owned 1.13% of Paylocity worth $112,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TCTC Holdings LLC lifted its holdings in shares of Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after acquiring an additional 80 shares during the last quarter. USA Financial Formulas bought a new position in Paylocity in the 1st quarter valued at approximately $29,000. Hughes Financial Services LLC bought a new position in Paylocity in the 1st quarter valued at approximately $48,000. Bayforest Capital Ltd raised its holdings in Paylocity by 69.1% in the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after buying an additional 121 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in Paylocity in the 1st quarter valued at approximately $61,000. Institutional investors own 94.76% of the company's stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $165.16 on Thursday. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 3.15 and a beta of 0.51. Paylocity Holding Corporation has a 52 week low of $159.70 and a 52 week high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $177.19 and a 200-day moving average of $183.69.

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. The company had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The company's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, equities analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a report on Monday, July 21st. Needham & Company LLC reiterated a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a report on Friday, July 18th. Stephens assumed coverage on shares of Paylocity in a report on Monday, July 21st. They issued an "equal weight" rating and a $200.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, KeyCorp increased their target price on shares of Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $221.59.

About Paylocity

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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