TimesSquare Capital Management LLC Has $19.98 Million Position in Paylocity Holding Corporation $PCTY

TimesSquare Capital Management LLC decreased its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 37.8% in the third quarter, Holdings Channel reports. The firm owned 125,462 shares of the software maker’s stock after selling 76,180 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Paylocity were worth $19,982,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PCTY. Amiral Gestion raised its position in shares of Paylocity by 37.6% during the third quarter. Amiral Gestion now owns 84,703 shares of the software maker’s stock worth $13,491,000 after purchasing an additional 23,162 shares during the period. Capital Fund Management S.A. acquired a new stake in Paylocity in the 2nd quarter valued at approximately $6,877,000. Prudential Financial Inc. boosted its position in Paylocity by 342.1% during the 2nd quarter. Prudential Financial Inc. now owns 68,883 shares of the software maker’s stock worth $12,481,000 after acquiring an additional 53,302 shares during the last quarter. Sawgrass Asset Management LLC bought a new position in shares of Paylocity during the 3rd quarter worth approximately $9,156,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of Paylocity in the second quarter valued at approximately $2,283,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of PCTY opened at $107.13 on Monday. The company’s 50-day moving average is $141.55 and its 200-day moving average is $153.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $5.77 billion, a PE ratio of 25.21, a PEG ratio of 3.12 and a beta of 0.54. Paylocity Holding Corporation has a fifty-two week low of $101.39 and a fifty-two week high of $218.74.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $1.52 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Equities analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jefferies Financial Group reduced their target price on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Paylocity in a research note on Thursday, January 29th. KeyCorp lowered their target price on Paylocity from $225.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Stephens set a $160.00 price target on Paylocity in a research report on Friday, January 16th. Finally, UBS Group lowered their price target on Paylocity from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Sixteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.14.

Insider Transactions 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 value of $249,520.05. Following the completion of the sale, the chief financial officer owned 77,229 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. 19.40% of the stock is owned by company insiders.

About Paylocity

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.