Royal Bank of Canada Sells 6,303 Shares of 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 holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,456 shares of the software maker's stock after selling 6,303 shares during the quarter. Royal Bank of Canada owned about 0.15% of Paylocity worth $15,823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. TCTC Holdings LLC lifted its stake in Paylocity by 115.9% in the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock worth $28,000 after purchasing an additional 80 shares in the last quarter. USA Financial Formulas bought a new stake in Paylocity in the 1st quarter worth $29,000. Hughes Financial Services LLC bought a new stake in Paylocity in the 1st quarter worth $48,000. Bayforest Capital Ltd boosted its stake in shares of Paylocity by 69.1% during the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after purchasing an additional 121 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Paylocity during the 1st quarter valued at about $61,000. 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 dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the sale, the senior vice president directly owned 11,953 shares in the company, valued at approximately $2,112,573.22. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCTY. Needham & Company LLC reissued a "buy" rating and set a $250.00 price objective on shares of Paylocity in a research note on Friday, July 18th. UBS Group boosted their price objective on shares of Paylocity from $201.00 to $202.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. 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. Cantor Fitzgerald began coverage on shares of Paylocity in a research report on Thursday, August 14th. They set an "overweight" rating and a $215.00 target price for the company. Finally, Raymond James Financial set a $220.00 price target on shares of Paylocity and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and an average price target of $222.71.

Paylocity Stock Down 0.6%

Shares of Paylocity stock opened at $172.04 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Corporation has a 1 year low of $152.95 and a 1 year high of $223.80. The firm's 50-day moving average is $180.56 and its two-hundred day moving average is $186.18. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 3.42 and a beta of 0.51.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its 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. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The company had revenue of $400.74 million for the quarter, compared to analysts' expectations of $388.25 million. During the same period in the prior year, the business earned $1.48 EPS. The firm's quarterly revenue was up 12.2% on a year-over-year basis. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, research analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Paylocity Company 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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