Trust Point Inc. Sells 1,545 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Trust Point Inc. reduced its stake in Paylocity Holding Corporation by 26.4%, selling 1,545 shares and ending the quarter with a valuation of $779,000.
• Paylocity reported better-than-expected earnings of $1.56 EPS, surpassing analyst estimates of $1.38, with quarterly revenue reaching $400.74 million, exceeding expectations of $388.25 million.
• A significant number of hedge funds are active in Paylocity, with 94.76% of the stock owned by institutional investors, highlighting strong interest in the company.

Trust Point Inc. reduced its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 26.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,302 shares of the software maker's stock after selling 1,545 shares during the quarter. Trust Point Inc.'s holdings in Paylocity were worth $779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TCTC Holdings LLC boosted its stake in shares of Paylocity by 115.9% during the 1st 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 bought a new position in shares of Paylocity during the 1st quarter worth approximately $29,000. Hughes Financial Services LLC bought a new position in shares of Paylocity during the 1st quarter worth approximately $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 worth $55,000 after acquiring an additional 121 shares during the period. Finally, SVB Wealth LLC bought a new position in shares of Paylocity during the 1st quarter worth approximately $61,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PCTY shares. Citigroup reduced their target price on Paylocity from $225.00 to $218.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Barclays reduced their price target on Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a research note on Monday, July 21st. KeyCorp boosted their price target on Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Raymond James Financial set a $220.00 price target on Paylocity and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, UBS Group reduced their price target on Paylocity from $195.00 to $183.00 and set a "neutral" rating for the company in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.59.

Paylocity Trading Up 2.3%

Shares of NASDAQ PCTY traded up $3.80 during trading on Monday, reaching $168.02. The company had a trading volume of 264,564 shares, compared to its average volume of 487,870. The company's fifty day moving average price is $178.06 and its 200-day moving average price is $184.13. Paylocity Holding Corporation has a 12 month low of $159.70 and a 12 month high of $223.80. The stock has a market cap of $9.27 billion, a P/E ratio of 41.90, a PEG ratio of 3.13 and a beta of 0.51. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly 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 firm had revenue of $400.74 million for the quarter, compared to analyst estimates of $388.25 million. During the same quarter in the previous year, the company posted $1.48 EPS. The business's 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 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.