PaylocityPCTY
Market Cap: $9.19B
About: Paylocity is a provider of payroll and human capital management, or HCM, solutions servicing small- to midsize clients in the United States. The company was founded in 1997 and targets businesses with 10 to 5,000 employees and services about 36,000 clients as of fiscal 2023. Alongside core payroll services, Paylocity offers HCM solutions such as time and attendance and recruiting software, as well workplace collaboration and communication tools.
Employees: 6,100
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
90% more first-time investments, than exits
New positions opened: 91 | Existing positions closed: 48
11% more funds holding
Funds holding: 404 [Q1] → 447 (+43) [Q2]
6% more repeat investments, than reductions
Existing positions increased: 151 | Existing positions reduced: 142
4.16% less ownership
Funds ownership: 80.96% [Q1] → 76.8% (-4.16%) [Q2]
27% less capital invested
Capital invested by funds: $7.84B [Q1] → $5.71B (-$2.12B) [Q2]
47% less call options, than puts
Call options by funds: $18.8M | Put options by funds: $35.6M
50% less funds holding in top 10
Funds holding in top 10: 4 [Q1] → 2 (-2) [Q2]
Research analyst outlook
10 Wall Street Analysts provided 1 year price targets over the past 3 months
10 analyst ratings
Needham Scott Berg 40% 1-year accuracy 53 / 131 met price target | 23%upside $200 | Buy Reiterated | 5 Sept 2024 |
Barclays Raimo Lenschow 50% 1-year accuracy 38 / 76 met price target | 4%downside $156 | Equal-Weight Maintained | 5 Aug 2024 |
JMP Securities Patrick Walravens 47% 1-year accuracy 45 / 95 met price target | 53%upside $250 | Market Outperform Reiterated | 5 Aug 2024 |
BTIG Matt VanVliet 67% 1-year accuracy 8 / 12 met price target | 14%upside $185 | Buy Maintained | 2 Aug 2024 |
Piper Sandler Arvind Ramnani 68% 1-year accuracy 39 / 57 met price target | 6%upside $172 | Overweight Maintained | 2 Aug 2024 |