Pallas Capital Advisors LLC Makes New $718,000 Investment in Paylocity Holding Corporation $PCTY

Pallas Capital Advisors LLC purchased a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,710 shares of the software maker’s stock, valued at approximately $718,000.

Several other institutional investors have also modified their holdings of PCTY. Millennium Management LLC lifted its position in Paylocity by 97.7% in the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock valued at $119,262,000 after purchasing an additional 369,975 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Paylocity during the third quarter valued at $104,657,000. Dimensional Fund Advisors LP increased its stake in Paylocity by 14.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 616,747 shares of the software maker’s stock valued at $98,237,000 after buying an additional 76,603 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Paylocity by 22.1% during the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock valued at $88,459,000 after acquiring an additional 100,400 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in shares of Paylocity by 61.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 552,313 shares of the software maker’s stock valued at $87,967,000 after purchasing an additional 209,897 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 3.1%

Shares of PCTY opened at $108.63 on Tuesday. The business’s 50-day moving average price is $117.25 and its 200 day moving average price is $139.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $5.85 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.05 and a beta of 0.58. Paylocity Holding Corporation has a 1-year low of $100.50 and a 1-year high of $201.97.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. The company had revenue of $416.13 million during the quarter, compared to analyst estimates of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 earnings per share. Analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PCTY shares. Stephens set a $160.00 price objective on Paylocity in a report on Friday, January 16th. UBS Group lowered their target price on Paylocity from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Citizens Jmp cut their price target on shares of Paylocity from $245.00 to $170.00 and set a “market outperform” rating for the company in a report on Friday, February 6th. Robert W. Baird set a $220.00 price objective on shares of Paylocity in a research note on Friday, February 6th. Finally, KeyCorp dropped their target price on shares of Paylocity from $225.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $180.05.

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.