Royal Bank of Canada Lowers Stock Position in Paylocity Holding Corporation $PCTY

Key Points

• Royal Bank of Canada has reduced its holdings in Paylocity by 6.9%, selling 6,303 shares during the first quarter, and now owns approximately $15.8 million in stock.
• Several institutional investors, including TCTC Holdings LLC and SVB Wealth LLC, have increased their stakes in Paylocity, with the combined institutional ownership now at 94.76%.
• Paylocity reported $1.56 earnings per share for the latest quarter, exceeding estimates, with a 12.2% year-over-year revenue growth to $400.74 million.

Royal Bank of Canada reduced its position in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,456 shares of the software maker's stock after selling 6,303 shares during the period. Royal Bank of Canada owned about 0.15% of Paylocity worth $15,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. TCTC Holdings LLC raised its position in Paylocity by 115.9% during 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 period. USA Financial Formulas acquired a new position in Paylocity during the first quarter worth $29,000. Hughes Financial Services LLC acquired a new position in Paylocity during the first quarter worth $48,000. Bayforest Capital Ltd raised its position in Paylocity by 69.1% during the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock worth $55,000 after acquiring an additional 121 shares during the period. Finally, SVB Wealth LLC acquired a new position in Paylocity during the first quarter worth $61,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stephens assumed coverage on shares of Paylocity in a research report on Monday, July 21st. They set an "equal weight" rating and a $200.00 price objective for the company. KeyCorp upped their price objective on shares of Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. UBS Group upped their price objective on shares of Paylocity from $201.00 to $202.00 and gave the stock a "neutral" 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 stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group dropped their target price on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $222.71.

Insider Activity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the sale, the senior vice president owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.91% of the company's stock.

Paylocity Trading Down 1.5%

PCTY stock traded down $2.61 during mid-day trading on Monday, hitting $167.07. 592,925 shares of the company were exchanged, compared to its average volume of 483,309. 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 market capitalization of $9.22 billion, a P/E ratio of 41.66, a PEG ratio of 3.23 and a beta of 0.51. The business has a fifty day simple moving average of $179.45 and a 200-day simple moving average of $185.09. Paylocity Holding Corporation has a 12-month low of $156.55 and a 12-month high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.18. The business had revenue of $400.74 million for the quarter, compared to analysts' expectations of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The business's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, equities research analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal 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.