Van Berkom & Associates Inc. Raises Stock Holdings in Paylocity Holding Corporation $PCTY

Van Berkom & Associates Inc. increased its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 17.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 523,342 shares of the software maker’s stock after buying an additional 77,127 shares during the quarter. Paylocity accounts for approximately 2.3% of Van Berkom & Associates Inc.’s holdings, making the stock its 22nd biggest holding. Van Berkom & Associates Inc.’s holdings in Paylocity were worth $79,810,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PCTY. Alyeska Investment Group L.P. purchased a new position in shares of Paylocity in the third quarter worth $104,657,000. AQR Capital Management LLC increased its stake in shares of Paylocity by 500.6% in the second quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock worth $81,438,000 after buying an additional 375,023 shares during the period. Millennium Management LLC increased its stake in shares of Paylocity by 97.7% in the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock worth $119,262,000 after buying an additional 369,975 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Paylocity by 311.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker’s stock worth $65,891,000 after buying an additional 327,082 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Paylocity by 114.6% in the third quarter. Two Sigma Investments LP now owns 516,798 shares of the software maker’s stock worth $82,310,000 after buying an additional 275,959 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCTY has been the topic of several analyst reports. Barclays decreased their target price on shares of Paylocity from $146.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, April 20th. TD Cowen reiterated a “buy” rating on shares of Paylocity in a report on Friday, February 6th. UBS Group cut their price target on shares of Paylocity from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Robert W. Baird set a $220.00 price target on shares of Paylocity in a report on Friday, February 6th. Finally, KeyCorp cut their price target on shares of Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $172.72.

Paylocity Stock Performance

Shares of PCTY stock opened at $109.03 on Tuesday. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $201.97. The stock has a market cap of $5.87 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.17 and a beta of 0.49. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $106.90 and its 200-day moving average price is $129.76.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The firm had revenue of $416.13 million for the quarter, compared to analysts’ expectations of $408.37 million. During the same quarter in the previous year, the business posted $1.52 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts expect that Paylocity Holding Corporation will post 5.31 EPS for the current fiscal 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.