Van Berkom & Associates Inc. Buys 77,127 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Van Berkom & Associates increased its Paylocity stake by 17.3%, buying 77,127 shares to hold 523,342 shares (about $79.8M), making PCTY ~2.3% of its portfolio and its 22nd largest holding.
• Paylocity beat quarterly estimates with EPS $1.85 vs $1.57 and revenue $416.13M vs $408.37M (revenue +10.4% YoY), reporting a 14.19% net margin and 23.44% ROE.
• Institutional buying is substantial—several firms (Alyeska, AQR, Millennium, Assenagon, Two Sigma) added large positions and institutions own 94.76% of the stock; analysts rate PCTY a "Moderate Buy" with a consensus target of $172.72.

Van Berkom & Associates Inc. boosted its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 523,342 shares of the software maker's stock after buying an additional 77,127 shares during the quarter. Paylocity makes up approximately 2.3% of Van Berkom & Associates Inc.'s portfolio, making the stock its 22nd largest holding. Van Berkom & Associates Inc. owned about 0.96% of Paylocity worth $79,810,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. bought a new position in Paylocity during the third quarter worth about $104,657,000. AQR Capital Management LLC boosted its position in Paylocity by 500.6% during the second quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker's stock worth $81,438,000 after purchasing an additional 375,023 shares during the period. Millennium Management LLC boosted its position in Paylocity by 97.7% during the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker's stock worth $119,262,000 after purchasing an additional 369,975 shares during the period. Assenagon Asset Management S.A. boosted its position in Paylocity by 311.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker's stock worth $65,891,000 after purchasing an additional 327,082 shares during the period. Finally, Two Sigma Investments LP boosted its position in Paylocity by 114.6% during the third quarter. Two Sigma Investments LP now owns 516,798 shares of the software maker's stock worth $82,310,000 after purchasing an additional 275,959 shares during the period. Institutional investors own 94.76% of the company's stock.

Paylocity Trading Down 0.5%

PCTY stock opened at $109.03 on Tuesday. The company has a market capitalization of $5.87 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.17 and a beta of 0.49. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $201.97. The company's 50 day moving average price is $106.90 and its two-hundred day moving average price is $129.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.57 by $0.28. The firm had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. As a group, analysts predict that Paylocity Holding Corporation will post 5.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of recent analyst reports. Citizens Jmp lowered their price target on shares of Paylocity from $245.00 to $170.00 and set a "market outperform" rating on the stock in a report on Friday, February 6th. Cantor Fitzgerald reissued an "overweight" rating on shares of Paylocity in a report on Thursday, January 29th. Robert W. Baird set a $220.00 price target on shares of Paylocity in a report on Friday, February 6th. TD Cowen reissued a "buy" rating on shares of Paylocity in a report on Friday, February 6th. Finally, KeyCorp lowered their price target on shares of Paylocity from $190.00 to $172.00 and set an "overweight" rating on the stock in a report on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Paylocity has an average rating of "Moderate Buy" and a consensus target price of $172.72.

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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