State of Alaska Department of Revenue Decreases Stake in Paylocity Holding Corporation $PCTY

State of Alaska Department of Revenue lessened its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 5.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,836 shares of the software maker’s stock after selling 270 shares during the quarter. State of Alaska Department of Revenue’s holdings in Paylocity were worth $876,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PCTY. TCTC Holdings LLC boosted its stake in shares of Paylocity by 115.9% in the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker’s stock valued at $28,000 after buying an additional 80 shares during the period. USA Financial Formulas purchased a new stake in Paylocity during the first quarter worth approximately $29,000. Hughes Financial Services LLC purchased a new stake in Paylocity during the first quarter worth approximately $48,000. Bayforest Capital Ltd lifted its stake in Paylocity by 69.1% during the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker’s stock worth $55,000 after purchasing an additional 121 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in Paylocity during the first quarter worth approximately $61,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup decreased their target price on Paylocity from $225.00 to $218.00 and set a “buy” rating for the company in a research note on Monday, July 21st. UBS Group decreased their target price on Paylocity from $195.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Needham & Company LLC restated a “buy” rating and set a $250.00 target price on shares of Paylocity in a research note on Friday, July 18th. BMO Capital Markets boosted their target price on Paylocity from $226.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Finally, Stephens assumed coverage on Paylocity in a research note on Monday, July 21st. They set an “equal weight” rating and a $200.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.59.

Paylocity Trading Up 0.5%

NASDAQ:PCTY opened at $156.42 on Tuesday. The firm has a market cap of $8.63 billion, a P/E ratio of 39.01, a PEG ratio of 2.96 and a beta of 0.53. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $172.81 and its 200-day simple moving average is $181.95. Paylocity Holding Corporation has a 12-month low of $151.71 and a 12-month high of $223.80.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18. The business had revenue of $400.74 million for the quarter, compared to analyst estimates of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Equities analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.