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

Other large investors have also made changes to their positions in the company. Associated Banc Corp raised its position in Paylocity by 4.5% in the first quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock valued at $226,000 after purchasing an additional 52 shares during the period. Cresset Asset Management LLC raised its position in Paylocity by 2.4% in the first quarter. Cresset Asset Management LLC now owns 2,613 shares of the software maker's stock valued at $490,000 after purchasing an additional 62 shares during the period. TCTC Holdings LLC raised its position in Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after purchasing an additional 80 shares during the period. Louisiana State Employees Retirement System raised its position in Paylocity by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the software maker's stock valued at $2,286,000 after purchasing an additional 100 shares during the period. Finally, Securian Asset Management Inc. raised its position in Paylocity by 3.1% in the first quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker's stock valued at $629,000 after purchasing an additional 100 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total value of $303,462.58. Following the completion of the transaction, 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 SEC, which is available through the SEC website. 21.91% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on PCTY shares. Citigroup dropped their target price on Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. UBS Group lifted their target price on Paylocity from $201.00 to $202.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Stephens started coverage on Paylocity in a research report on Monday, July 21st. They set an "equal weight" rating and a $200.00 target price on the stock. Jefferies Financial Group dropped their target price on Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Barclays dropped their target price on Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a research report on Monday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $222.71.

Paylocity Stock Performance

Shares of NASDAQ:PCTY traded up $2.69 during trading on Thursday, hitting $171.93. 526,180 shares of the company traded hands, compared to its average volume of 493,245. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 42.88, a PEG ratio of 3.35 and a beta of 0.51. The business's fifty day moving average is $180.09 and its 200-day moving average is $185.82. Paylocity Holding Corporation has a one year low of $154.51 and a one year high of $223.80. 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 posted its earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, beating the consensus estimate of $1.38 by $0.18. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The company had revenue of $400.74 million during the quarter, compared to analyst estimates of $388.25 million. During the same period in the prior year, the company earned $1.48 earnings per share. The business's revenue was up 12.2% compared to the same quarter last year. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, equities analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share 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.