AlphaQuest LLC Has $3.95 Million Stock Holdings in Paylocity Holding Corporation $PCTY

AlphaQuest LLC raised its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 80.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,804 shares of the software maker’s stock after purchasing an additional 11,050 shares during the period. AlphaQuest LLC’s holdings in Paylocity were worth $3,951,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Federated Hermes Inc. boosted its holdings in shares of Paylocity by 1.6% during the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock worth $772,000 after buying an additional 78 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Paylocity during the third quarter worth approximately $41,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Paylocity by 23.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 5,462 shares of the software maker’s stock worth $870,000 after acquiring an additional 1,025 shares during the period. Mutual of America Capital Management LLC grew its position in shares of Paylocity by 5.3% in the third quarter. Mutual of America Capital Management LLC now owns 24,392 shares of the software maker’s stock valued at $3,885,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Paylocity by 1.9% during the third quarter. Retirement Systems of Alabama now owns 74,523 shares of the software maker’s stock worth $11,869,000 after purchasing an additional 1,370 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCTY. Citigroup boosted their price target on Paylocity from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Zacks Research raised shares of Paylocity from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. JMP Securities set a $245.00 price target on shares of Paylocity in a research report on Wednesday, November 5th. Stephens set a $160.00 target price on shares of Paylocity in a research report on Friday, January 16th. Finally, Citizens Jmp dropped their price target on shares of Paylocity from $270.00 to $245.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 5th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $204.05.

Paylocity Trading Down 6.1%

NASDAQ PCTY opened at $132.15 on Friday. The firm’s 50 day simple moving average is $147.57 and its 200 day simple moving average is $159.16. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 33.12, a P/E/G ratio of 4.14 and a beta of 0.56. Paylocity Holding Corporation has a 1 year low of $131.07 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Paylocity had a return on equity of 22.07% and a net margin of 13.75%.The firm had revenue of $408.17 million during the quarter, compared to analysts’ expectations of $399.53 million. During the same period in the prior year, the company earned $1.66 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Transactions at Paylocity

In other Paylocity news, CFO Ryan Glenn sold 1,737 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total transaction of $249,520.05. Following the completion of the transaction, the chief financial officer owned 77,229 shares of the company’s stock, valued at approximately $11,093,945.85. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.40% of the stock is currently owned by corporate insiders.

Paylocity Profile

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.