Voya Investment Management LLC Buys 17,118 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Voya Investment Management LLC increased its holdings in Paylocity Holding Corporation by 62.5%, owning approximately $8.34 million worth of the stock after acquiring an additional 17,118 shares.
• Paylocity's recent earnings report beat expectations, with a reported earnings per share (EPS) of $1.56, surpassing the consensus estimate of $1.38, and revenue of $400.74 million.
• Institutional investors own nearly 95% of Paylocity's stock, indicating strong interest and confidence in the company's performance.

Voya Investment Management LLC increased its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 62.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,516 shares of the software maker's stock after buying an additional 17,118 shares during the period. Voya Investment Management LLC owned about 0.08% of Paylocity worth $8,340,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PCTY. New York State Teachers Retirement System raised its holdings in Paylocity by 7.3% during the 1st quarter. New York State Teachers Retirement System now owns 40,154 shares of the software maker's stock worth $7,522,000 after purchasing an additional 2,724 shares during the last quarter. GAMMA Investing LLC raised its holdings in Paylocity by 41.9% during the 1st quarter. GAMMA Investing LLC now owns 545 shares of the software maker's stock worth $102,000 after purchasing an additional 161 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Paylocity by 6.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,293 shares of the software maker's stock worth $1,179,000 after purchasing an additional 383 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Paylocity during the 1st quarter worth approximately $359,000. Finally, Millennium Management LLC raised its holdings in Paylocity by 86.8% during the 1st quarter. Millennium Management LLC now owns 211,995 shares of the software maker's stock worth $39,715,000 after purchasing an additional 98,520 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PCTY shares. Cantor Fitzgerald upgraded shares of Paylocity to a "strong-buy" rating in a research note on Thursday, September 11th. Stephens started coverage on shares of Paylocity in a research note on Monday, July 21st. They issued an "equal weight" rating and a $200.00 price objective for the company. Zacks Research upgraded shares of Paylocity from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 11th. Citigroup lowered their price objective on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Finally, Jefferies Financial Group lowered their price objective on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and an average target price of $221.59.

Insider Buying and Selling at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the business'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 transaction, the senior vice president directly owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 21.91% of the company's stock.

Paylocity Stock Down 0.5%

Shares of NASDAQ PCTY traded down $0.79 during trading on Friday, hitting $164.22. The stock had a trading volume of 914,896 shares, compared to its average volume of 505,395. Paylocity Holding Corporation has a 12 month low of $159.70 and a 12 month high of $223.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $9.06 billion, a PE ratio of 40.95, a PEG ratio of 3.13 and a beta of 0.51. The firm has a fifty day moving average of $178.06 and a two-hundred day moving average of $184.13.

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 for the quarter, topping analysts' consensus estimates of $1.38 by $0.18. The company had revenue of $400.74 million for the quarter, compared to the consensus estimate of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The firm's quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, equities research analysts forecast that Paylocity Holding Corporation will post 4.36 EPS 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.