Paylocity (NASDAQ:PCTY) announced its quarterly earnings results on Thursday. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.27, Bloomberg Earnings reports. The business had revenue of $120.37 million for the quarter, compared to the consensus estimate of $117.51 million. Paylocity had a return on equity of 19.10% and a net margin of 11.57%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. Paylocity updated its FY 2020 guidance to EPS and its Q1 2020 guidance to EPS.
Paylocity stock traded up $9.27 during mid-day trading on Friday, hitting $110.66. 934,603 shares of the company’s stock traded hands, compared to its average volume of 319,582. The company has a 50 day moving average price of $101.21. The firm has a market cap of $5.37 billion, a P/E ratio of 102.46, a PEG ratio of 5.62 and a beta of 1.69. Paylocity has a one year low of $53.46 and a one year high of $111.61.
Several analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Paylocity from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Friday. KeyCorp raised their price target on Paylocity from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. SunTrust Banks raised their price target on Paylocity from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada reaffirmed a “neutral” rating on shares of Paylocity in a research note on Sunday. Finally, Raymond James lifted their target price on Paylocity from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $103.58.
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.
Further Reading: Outperform Rating
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