Paylocity (NASDAQ:PCTY) Announces Quarterly Earnings Results

Paylocity (NASDAQ:PCTY) posted its quarterly earnings results on Tuesday. The software maker reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22, FiscalAI reports. The firm had revenue of $444.73 million for the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a net margin of 14.94% and a return on equity of 25.63%.

Paylocity Price Performance

PCTY traded up $3.55 during trading on Tuesday, reaching $143.32. The company’s stock had a trading volume of 964,468 shares, compared to its average volume of 806,609. Paylocity has a 1 year low of $92.99 and a 1 year high of $197.78. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 30.56 and a beta of 0.47. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $116.13 and a two-hundred day simple moving average of $114.31.

Wall Street Analyst Weigh In

Several research firms have commented on PCTY. Robert W. Baird set a $193.00 price objective on Paylocity in a report on Friday, May 8th. TD Cowen lowered their target price on shares of Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Zacks Research downgraded Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Raymond James Financial set a $140.00 price objective on shares of Paylocity in a report on Friday, May 8th. Finally, Barclays increased their price target on shares of Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.88.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the transaction, the senior vice president owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. acquired a new position in shares of Paylocity in the 3rd quarter valued at $104,657,000. Morgan Stanley grew its holdings in shares of Paylocity by 117.9% in the fourth quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock valued at $124,625,000 after purchasing an additional 442,218 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Paylocity by 75.1% during the fourth quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock worth $143,747,000 after acquiring an additional 404,605 shares during the period. Millennium Management LLC grew its stake in Paylocity by 97.7% during the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock worth $119,262,000 after purchasing an additional 369,975 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Paylocity by 114.6% during the third quarter. Two Sigma Investments LP now owns 516,798 shares of the software maker’s stock worth $82,310,000 after buying an additional 275,959 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Company 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.