Zurich Insurance Group Ltd FI Acquires Shares of 256,206 Paylocity Holding Corporation $PCTY

Key Points

• Zurich Insurance Group Ltd FI invested approximately $48 million in Paylocity Holding Corporation, purchasing 256,206 shares during the first quarter, raising its ownership to 0.46% by the end of the reporting period.
• Several major investors, including Vanguard Group Inc. and American Century Companies Inc., have increased their holdings in Paylocity, with institutional investors and hedge funds owning nearly 95% of the company's stock.
• Paylocity reported a 12.2% increase in year-over-year revenue with earnings per share of $1.56, surpassing analysts' estimates, and is projected to post 4.36 EPS for the current year.

Zurich Insurance Group Ltd FI bought a new stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 256,206 shares of the software maker's stock, valued at approximately $47,998,000. Zurich Insurance Group Ltd FI owned about 0.46% of Paylocity at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PCTY. Vanguard Group Inc. boosted its holdings in Paylocity by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock valued at $807,966,000 after purchasing an additional 283,430 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Paylocity in the 1st quarter valued at about $37,085,000. American Century Companies Inc. boosted its holdings in Paylocity by 47.0% in the 1st quarter. American Century Companies Inc. now owns 514,194 shares of the software maker's stock valued at $96,329,000 after purchasing an additional 164,397 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Paylocity by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,287,514 shares of the software maker's stock valued at $803,224,000 after purchasing an additional 141,705 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Paylocity by 47.3% in the 1st quarter. Ameriprise Financial Inc. now owns 429,166 shares of the software maker's stock valued at $80,404,000 after purchasing an additional 137,726 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the sale, the senior vice president directly owned 11,953 shares of the company's stock, valued at $2,112,573.22. This represents a 12.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.91% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PCTY. Barclays decreased their target price on shares of Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. Jefferies Financial Group decreased their price objective on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Cantor Fitzgerald upgraded shares of Paylocity to a "strong-buy" rating in a report on Thursday. Stephens started coverage on shares of Paylocity in a report on Monday, July 21st. They issued an "equal weight" rating and a $200.00 price objective on the stock. Finally, Zacks Research upgraded shares of Paylocity from a "strong sell" rating to a "hold" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and a consensus price target of $222.71.

Paylocity Stock Down 1.3%

PCTY traded down $2.25 during trading hours on Friday, hitting $169.68. 423,119 shares of the company's stock were exchanged, compared to its average volume of 483,309. Paylocity Holding Corporation has a 12-month low of $154.91 and a 12-month high of $223.80. The firm has a 50 day moving average of $179.79 and a 200 day moving average of $185.35. The firm has a market cap of $9.36 billion, a P/E ratio of 42.31, a price-to-earnings-growth ratio of 3.23 and a beta of 0.51. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share 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 firm had revenue of $400.74 million for the quarter, compared to the consensus estimate of $388.25 million. During the same period in the prior year, the firm earned $1.48 EPS. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Analysts predict that Paylocity Holding Corporation will post 4.36 EPS 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.