Elo Mutual Pension Insurance Co Buys New Shares in Paylocity Holding Corporation $PCTY

Elo Mutual Pension Insurance Co bought a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,694 shares of the software maker’s stock, valued at approximately $2,500,000.

A number of other hedge funds have also recently bought and sold shares of PCTY. Aster Capital Management DIFC Ltd bought a new stake in shares of Paylocity during the 3rd quarter worth approximately $358,000. R Squared Ltd increased its holdings in Paylocity by 38.1% during the third quarter. R Squared Ltd now owns 5,240 shares of the software maker’s stock worth $835,000 after buying an additional 1,447 shares during the last quarter. Choreo LLC raised its position in Paylocity by 36.4% during the third quarter. Choreo LLC now owns 2,353 shares of the software maker’s stock worth $375,000 after acquiring an additional 628 shares in the last quarter. Interchange Capital Partners LLC acquired a new stake in Paylocity in the third quarter valued at $281,000. Finally, Intech Investment Management LLC lifted its stake in Paylocity by 52.2% in the third quarter. Intech Investment Management LLC now owns 9,982 shares of the software maker’s stock valued at $1,590,000 after acquiring an additional 3,425 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BTIG Research dropped their target price on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Stifel Nicolaus dropped their price objective on Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. BMO Capital Markets reduced their target price on Paylocity from $185.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Robert W. Baird set a $220.00 price target on Paylocity in a research note on Friday, February 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Paylocity in a report on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.05.

Paylocity Stock Performance

NASDAQ:PCTY opened at $113.60 on Wednesday. The stock has a 50 day simple moving average of $131.32 and a 200 day simple moving average of $147.71. The stock has a market cap of $6.12 billion, a P/E ratio of 26.73, a PEG ratio of 3.10 and a beta of 0.58. Paylocity Holding Corporation has a 1-year low of $100.50 and a 1-year high of $203.70. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07.

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

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.