Pallas Capital Advisors LLC Buys Shares of 4,710 Paylocity Holding Corporation $PCTY

Pallas Capital Advisors LLC bought a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,710 shares of the software maker’s stock, valued at approximately $718,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Paylocity during the fourth quarter valued at $2,852,000. Assenagon Asset Management S.A. raised its position in Paylocity by 311.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker’s stock valued at $65,891,000 after buying an additional 327,082 shares during the period. True Wealth Design LLC lifted its stake in Paylocity by 43.4% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the software maker’s stock worth $63,000 after acquiring an additional 124 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Paylocity by 204.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,307 shares of the software maker’s stock worth $2,648,000 after acquiring an additional 11,628 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its position in Paylocity by 54.0% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,939 shares of the software maker’s stock worth $441,000 after acquiring an additional 1,030 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $108.63 on Tuesday. Paylocity Holding Corporation has a fifty-two week low of $100.50 and a fifty-two week high of $201.97. The stock’s 50-day moving average is $117.25 and its two-hundred day moving average is $139.04. 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 cap of $5.85 billion, a P/E ratio of 25.56, a PEG ratio of 3.05 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 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 analyst estimates of $408.37 million. During the same period in the previous year, the company earned $1.52 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. Analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of research reports. KeyCorp dropped their target price on Paylocity from $225.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Barclays set a $146.00 price target on shares of Paylocity in a report on Friday, February 6th. Robert W. Baird set a $220.00 price objective 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 on the stock in a research note on Friday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Paylocity in a research report on Thursday, January 29th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $180.05.

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.