Jefferies Financial Group Inc. Makes New $1.35 Million Investment in Paylocity Holding Corporation $PCTY

Jefferies Financial Group Inc. purchased a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,449 shares of the software maker’s stock, valued at approximately $1,346,000.

A number of other institutional investors also recently modified their holdings of PCTY. AQR Capital Management LLC boosted its holdings in shares of Paylocity by 500.6% during the 2nd 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. Norges Bank bought a new position in Paylocity in the 2nd quarter worth $34,042,000. Qube Research & Technologies Ltd raised its holdings in Paylocity by 120.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock worth $62,042,000 after acquiring an additional 186,952 shares during the period. Bank of America Corp DE lifted its position in Paylocity by 80.3% during the 2nd quarter. Bank of America Corp DE now owns 289,553 shares of the software maker’s stock worth $52,464,000 after acquiring an additional 128,972 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Paylocity during the 2nd quarter worth $19,303,000. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Paylocity in a research report on Thursday, January 29th. Robert W. Baird set a $220.00 price objective on Paylocity in a research report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Paylocity in a research note on Friday, February 6th. Truist Financial dropped their price target on Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, Jefferies Financial Group cut their price target on Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 6th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.05.

Paylocity Stock Performance

NASDAQ:PCTY opened at $113.78 on Thursday. The firm’s 50-day moving average is $126.91 and its 200-day moving average is $145.27. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.29 and a beta of 0.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. Paylocity Holding Corporation has a 52-week low of $100.50 and a 52-week high of $201.97.

Paylocity (NASDAQ:PCTY) last released its 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 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 company earned $1.52 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

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.