Ranger Investment Management L.P. Buys New Shares in Paylocity Holding Corporation $PCTY

Ranger Investment Management L.P. bought a new position in Paylocity Holding Corporation (NASDAQ:PCTY) in the second quarter, Holdings Channel.com reports. The firm bought 171,262 shares of the software maker’s stock, valued at approximately $17,902,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optiver Holding B.V. boosted its position in Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after buying an additional 237 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Paylocity during the second quarter valued at $27,000. Basecamp Wealth Advisors LLC increased its holdings in Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after buying an additional 255 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Paylocity in the fourth quarter valued at $30,000. Finally, Elevation Wealth Partners LLC raised its position in shares of Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after acquiring an additional 285 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $153.34 on Monday. The stock has a market cap of $8.14 billion, a PE ratio of 30.98 and a beta of 0.47. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $182.83. The company has a 50-day moving average of $126.14 and a 200 day moving average of $115.11.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. The business had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $1.56 EPS. As a group, sell-side analysts predict that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCTY. Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Truist Financial cut their target price on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Jefferies Financial Group restated a “buy” rating and set a $165.00 price target on shares of Paylocity in a research report on Wednesday, August 5th. Zacks Research lowered shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, KeyCorp lifted their price objective on Paylocity from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

Paylocity News Summary

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target for Paylocity from $168 to $177 and maintained a “buy” rating, indicating potential upside from the referenced share price. The move signals continued confidence in Paylocity’s growth outlook. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day average, forming a bullish “golden cross.” This technical signal could attract momentum-focused investors and reinforce the stock’s ongoing uptrend. Zacks golden cross analysis
• Positive Sentiment: Recent coverage highlighted the extension of Paylocity’s uptrend after a strong quarterly report. The company reported adjusted earnings of $1.84 per share versus the $1.62 consensus estimate and revenue of $444.7 million versus expectations of $431.5 million, with revenue up 11% year over year. Kalkine Media Paylocity uptrend report
• Neutral Sentiment: CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven I. Sarowitz sold a combined 19,164 shares worth approximately $2.87 million. Because the transactions were executed under pre-arranged Rule 10b5-1 plans, they are a limited signal of near-term pessimism. Sarowitz still owns more than 4.48 million shares, and the other executives retain substantial positions. SEC insider transaction filing

Insider Buying and Selling

In related news, SVP Andrew Cappotelli sold 2,550 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total value of $382,066.50. Following the completion of the transaction, the senior vice president directly owned 44,329 shares in the company, valued at approximately $6,641,814.07. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven I. Sarowitz sold 11,136 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $150.81, for a total value of $1,679,420.16. Following the sale, the director directly owned 4,535,052 shares of the company’s stock, valued at approximately $683,931,192.12. This trade represents a 0.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 30,300 shares of company stock worth $4,553,607. 19.40% of the stock is owned by corporate insiders.

About Paylocity

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.