Paylocity Holding Corporation $PCTY Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 22.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 555,393 shares of the software maker’s stock after buying an additional 100,400 shares during the period. JPMorgan Chase & Co.’s holdings in Paylocity were worth $88,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCTY. American Century Companies Inc. grew its stake in Paylocity by 4.0% during the 2nd quarter. American Century Companies Inc. now owns 534,843 shares of the software maker’s stock valued at $96,909,000 after acquiring an additional 20,649 shares in the last quarter. AQR Capital Management LLC lifted its stake in Paylocity by 500.6% in 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. Ameriprise Financial Inc. boosted its holdings in shares of Paylocity by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 434,789 shares of the software maker’s stock worth $78,779,000 after purchasing an additional 5,623 shares during the last quarter. Qube Research & Technologies Ltd grew its position in shares of Paylocity by 120.3% in the second quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock valued at $62,042,000 after purchasing an additional 186,952 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Paylocity by 80.3% in the second quarter. Bank of America Corp DE now owns 289,553 shares of the software maker’s stock valued at $52,464,000 after purchasing an additional 128,972 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stephens set a $160.00 price objective on Paylocity in a research note on Friday, January 16th. Citigroup reissued an “outperform” rating on shares of Paylocity in a research report on Friday, February 6th. Truist Financial dropped their price objective on shares of Paylocity from $240.00 to $180.00 and set a “buy” rating for the company in a report on Friday, February 6th. BMO Capital Markets reduced their target price on shares of Paylocity from $185.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Finally, BTIG Research dropped their price target on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 6th. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.05.

Paylocity Trading Down 3.5%

PCTY opened at $101.95 on Tuesday. The business has a fifty day moving average price of $136.59 and a 200 day moving average price of $150.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04. Paylocity Holding Corporation has a 12 month low of $100.90 and a 12 month high of $210.35. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 3.04 and a beta of 0.54.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The business had revenue of $416.13 million during the quarter, compared to analysts’ expectations of $408.37 million. During the same quarter last year, the business posted $1.52 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal 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.