AlphaQuest LLC Has $3.95 Million Stake in Paylocity Holding Corporation $PCTY

AlphaQuest LLC raised its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 80.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,804 shares of the software maker’s stock after buying an additional 11,050 shares during the quarter. AlphaQuest LLC’s holdings in Paylocity were worth $3,951,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Pilgrim Partners Asia Pte Ltd acquired a new position in Paylocity during the third quarter valued at approximately $41,000. SBI Securities Co. Ltd. grew its holdings in shares of Paylocity by 47.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock valued at $46,000 after buying an additional 81 shares during the period. True Wealth Design LLC increased its position in shares of Paylocity by 155.4% in the 3rd quarter. True Wealth Design LLC now owns 286 shares of the software maker’s stock valued at $46,000 after buying an additional 174 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in Paylocity by 14,800.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 298 shares of the software maker’s stock worth $47,000 after buying an additional 296 shares during the period. Finally, Employees Retirement System of Texas bought a new position in Paylocity during the second quarter worth about $51,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Performance

PCTY opened at $132.15 on Friday. The business’s 50-day simple moving average is $147.57 and its 200 day simple moving average is $159.16. Paylocity Holding Corporation has a 52-week low of $131.07 and a 52-week high of $223.80. The firm has a market capitalization of $7.19 billion, a PE ratio of 33.12, a PEG ratio of 4.14 and a beta of 0.56.

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

Insider Activity at Paylocity

In other news, CFO Ryan Glenn sold 1,737 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total transaction of $249,520.05. Following the transaction, the chief financial officer directly owned 77,229 shares in the company, valued at $11,093,945.85. The trade was a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCTY. BTIG Research initiated coverage on Paylocity in a research report on Tuesday, December 16th. They set a “buy” rating and a $180.00 price target on the stock. Citigroup increased their target price on Paylocity from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. JMP Securities set a $245.00 price target on shares of Paylocity in a research note on Wednesday, November 5th. Stephens set a $160.00 price objective on shares of Paylocity in a research report on Friday, January 16th. Finally, Guggenheim raised shares of Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Monday, November 10th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.05.

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.