Bridgefront Capital LLC Has $1.69 Million Position in Paylocity Holding Corporation $PCTY

Bridgefront Capital LLC lifted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 116.6% in the third quarter, HoldingsChannel.com reports. The fund owned 10,581 shares of the software maker’s stock after buying an additional 5,695 shares during the period. Paylocity comprises approximately 0.5% of Bridgefront Capital LLC’s portfolio, making the stock its 22nd biggest holding. Bridgefront Capital LLC’s holdings in Paylocity were worth $1,685,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PCTY. AQR Capital Management LLC raised its position in Paylocity by 500.6% during the second quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after purchasing an additional 375,023 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Paylocity by 114.6% in the 3rd quarter. Two Sigma Investments LP now owns 516,798 shares of the software maker’s stock valued at $82,310,000 after purchasing an additional 275,959 shares in the last quarter. Norges Bank acquired a new stake in shares of Paylocity in the 2nd quarter valued at $34,042,000. Qube Research & Technologies Ltd increased 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 purchasing an additional 186,952 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Paylocity by 125.9% in the 3rd quarter. UBS Group AG now owns 300,768 shares of the software maker’s stock valued at $47,903,000 after purchasing an additional 167,638 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Price Performance

Shares of PCTY opened at $109.39 on Friday. Paylocity Holding Corporation has a 12-month low of $100.50 and a 12-month high of $201.97. The business has a 50-day simple moving average of $125.34 and a two-hundred day simple moving average of $144.31. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.89 billion, a PE ratio of 25.74, a PEG ratio of 3.14 and a beta of 0.58.

Paylocity (NASDAQ:PCTY) last announced its quarterly 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 return on equity of 23.44% and a net margin of 14.19%.The firm had revenue of $416.13 million for the quarter, compared to analyst estimates of $408.37 million. During the same period last year, the firm posted $1.52 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent analyst reports. Barclays set a $146.00 price objective on Paylocity in a research report on Friday, February 6th. Mizuho lowered their target price on Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. UBS Group dropped their target price on shares of Paylocity from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Paylocity in a report on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.05.

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.