TimesSquare Capital Management LLC Grows Stock Holdings in Paylocity Holding Corporation $PCTY

TimesSquare Capital Management LLC raised its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 45.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,047 shares of the software maker’s stock after buying an additional 56,585 shares during the period. TimesSquare Capital Management LLC owned about 0.33% of Paylocity worth $27,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Paylocity during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Paylocity by 363.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after buying an additional 149 shares during the period. Advisory Services Network LLC purchased a new position in shares of Paylocity during the third quarter worth $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Paylocity during the third quarter worth $41,000. Finally, Allworth Financial LP boosted its position in shares of Paylocity by 88.0% during the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after buying an additional 132 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stifel Nicolaus decreased their target price on Paylocity from $188.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 6th. Jefferies Financial Group set a $135.00 target price on Paylocity in a report on Saturday, May 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Paylocity in a report on Thursday, January 29th. Stephens decreased their target price on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Finally, BMO Capital Markets lifted their target price on Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $160.28.

Paylocity Trading Up 5.5%

NASDAQ:PCTY opened at $112.97 on Tuesday. The firm has a market cap of $6.05 billion, a PE ratio of 24.09 and a beta of 0.49. The stock has a fifty day moving average price of $106.70 and a 200 day moving average price of $126.68. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $201.62. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07.

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.