Tudor Investment Corp ET AL Has $13.27 Million Stake in Paylocity Holding Corporation $PCTY

Key Points

• Tudor Investment Corp increased its stake in Paylocity by 50.7% during the third quarter to 83,304 shares worth about $13.27 million, representing roughly 0.15% of the company.
• Paylocity beat expectations for the most recent quarter, reporting $1.85 EPS vs. $1.57 expected and revenue of $416.13 million (up 10.4% year-over-year), while the company has a market cap of $6.06 billion and a P/E of 26.48.
• Analysts hold a consensus rating of "Moderate Buy" with an average price target of $180.05, although several firms recently trimmed their price targets for the shares.

Tudor Investment Corp ET AL lifted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 50.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,304 shares of the software maker's stock after purchasing an additional 28,016 shares during the quarter. Tudor Investment Corp ET AL owned 0.15% of Paylocity worth $13,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PCTY. Advisory Services Network LLC acquired a new position in shares of Paylocity during the third quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Paylocity in the 3rd quarter valued at approximately $41,000. Employees Retirement System of Texas bought a new position in shares of Paylocity during the 2nd quarter worth approximately $51,000. Allworth Financial LP raised its holdings in shares of Paylocity by 88.0% in the third quarter. Allworth Financial LP now owns 282 shares of the software maker's stock valued at $45,000 after purchasing an additional 132 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in shares of Paylocity by 155.4% in the third quarter. True Wealth Design LLC now owns 286 shares of the software maker's stock worth $46,000 after purchasing an additional 174 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BTIG Research decreased their target price on shares of Paylocity from $180.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, February 6th. Truist Financial decreased their price objective on Paylocity from $240.00 to $180.00 and set a "buy" rating for the company in a report on Friday, February 6th. Barclays set a $146.00 target price on Paylocity in a report on Friday, February 6th. KeyCorp decreased their price target on Paylocity from $225.00 to $190.00 and set an "overweight" rating for the company in a research note on Friday, February 6th. Finally, Jefferies Financial Group dropped their price objective on Paylocity from $180.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, February 6th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $180.05.

Paylocity Price Performance

NASDAQ:PCTY opened at $112.52 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12-month low of $100.50 and a 12-month high of $201.97. The stock's 50 day moving average price is $121.22 and its two-hundred day moving average price is $141.93. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 3.23 and a beta of 0.58.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The business had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. During the same period in the previous year, the firm earned $1.52 EPS. The firm's revenue was up 10.4% compared to the same quarter last year. On average, analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

About Paylocity

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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