Paylocity Holding Corp (PCTY) Expected to Post Earnings of $0.25 Per Share

Analysts expect that Paylocity Holding Corp (NASDAQ:PCTY) will post earnings of $0.25 per share for the current quarter, according to Zacks. Nine analysts have provided estimates for Paylocity’s earnings. The lowest EPS estimate is $0.22 and the highest is $0.28. Paylocity reported earnings of $0.11 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 127.3%. The business is scheduled to issue its next earnings report on Thursday, August 8th.

On average, analysts expect that Paylocity will report full-year earnings of $1.29 per share for the current fiscal year, with EPS estimates ranging from $1.22 to $1.31. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.67 per share, with EPS estimates ranging from $1.53 to $1.82. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Paylocity.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.19. The business had revenue of $139.60 million during the quarter, compared to analyst estimates of $135.97 million. Paylocity had a net margin of 9.52% and a return on equity of 15.29%. The company’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share.



A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Jefferies Financial Group upped their target price on shares of Paylocity from $85.00 to $103.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. ValuEngine lowered shares of Paylocity from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Craig Hallum restated a “hold” rating and set a $97.00 target price (up previously from $78.00) on shares of Paylocity in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $88.57.

In related news, CEO Steven R. Beauchamp sold 40,000 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $83.69, for a total transaction of $3,347,600.00. Following the sale, the chief executive officer now owns 1,885,948 shares of the company’s stock, valued at $157,834,988.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 166,489 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $95.53, for a total transaction of $15,904,694.17. Following the sale, the director now directly owns 14,569,464 shares in the company, valued at approximately $1,391,820,895.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 976,470 shares of company stock worth $85,540,913. 41.20% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in PCTY. Conestoga Capital Advisors LLC purchased a new stake in Paylocity during the fourth quarter valued at $35,062,000. Vanguard Group Inc. raised its stake in shares of Paylocity by 9.7% in the third quarter. Vanguard Group Inc. now owns 2,787,057 shares of the software maker’s stock valued at $223,856,000 after acquiring an additional 246,433 shares during the period. Norges Bank purchased a new stake in shares of Paylocity in the fourth quarter valued at $12,819,000. BlackRock Inc. raised its stake in shares of Paylocity by 8.7% in the first quarter. BlackRock Inc. now owns 2,460,283 shares of the software maker’s stock valued at $219,431,000 after acquiring an additional 197,377 shares during the period. Finally, Wasatch Advisors Inc. raised its stake in shares of Paylocity by 9.3% in the first quarter. Wasatch Advisors Inc. now owns 2,008,033 shares of the software maker’s stock valued at $179,096,000 after acquiring an additional 171,514 shares during the period. 65.29% of the stock is currently owned by institutional investors.

Shares of NASDAQ:PCTY traded up $2.73 during midday trading on Tuesday, reaching $96.12. 312,400 shares of the company were exchanged, compared to its average volume of 287,257. Paylocity has a one year low of $52.93 and a one year high of $99.80. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 310.06, a P/E/G ratio of 8.46 and a beta of 2.07.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

Featured Story: How Does the Quiet Period Work?

Get a free copy of the Zacks research report on Paylocity (PCTY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.