Inscription Capital LLC Acquires 4,856 Shares of Paylocity Holding Corporation $PCTY

Inscription Capital LLC raised its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 288.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,541 shares of the software maker’s stock after acquiring an additional 4,856 shares during the period. Inscription Capital LLC’s holdings in Paylocity were worth $1,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PCTY. AQR Capital Management LLC increased its position in Paylocity by 500.6% during the 2nd quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock worth $81,438,000 after purchasing an additional 375,023 shares in the last quarter. Norges Bank bought a new stake in shares of Paylocity during the second quarter worth $34,042,000. Qube Research & Technologies Ltd lifted its stake in shares of Paylocity by 120.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock valued at $62,042,000 after acquiring an additional 186,952 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Paylocity during the 2nd quarter valued at $28,760,000. Finally, Bank of America Corp DE boosted its holdings in shares of Paylocity by 80.3% during the 2nd quarter. Bank of America Corp DE now owns 289,553 shares of the software maker’s stock valued at $52,464,000 after acquiring an additional 128,972 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BTIG Research initiated coverage on Paylocity in a research report on Tuesday, December 16th. They issued a “buy” rating and a $180.00 target price for the company. TD Cowen lifted their target price on shares of Paylocity from $184.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Cantor Fitzgerald set a $190.00 price target on shares of Paylocity in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Paylocity in a research note on Monday, December 29th. Finally, Stephens set a $160.00 price objective on shares of Paylocity in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.05.

Insider Buying and Selling

In other Paylocity news, CFO Ryan Glenn sold 1,737 shares of Paylocity stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total value of $249,520.05. Following the completion of the sale, the chief financial officer directly owned 77,229 shares in the company, valued at approximately $11,093,945.85. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.40% of the stock is owned by corporate insiders.

Paylocity Stock Performance

NASDAQ:PCTY opened at $137.66 on Wednesday. Paylocity Holding Corporation has a 52 week low of $135.46 and a 52 week high of $223.80. The firm’s fifty day moving average is $148.13 and its 200-day moving average is $160.84. The firm has a market cap of $7.49 billion, a P/E ratio of 34.50, a P/E/G ratio of 4.12 and a beta of 0.56.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.23. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The business had revenue of $408.17 million for the quarter, compared to analyst estimates of $399.53 million. During the same quarter in the previous year, the business earned $1.66 earnings per share. Paylocity’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

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.