Brokerages Expect Paylocity Holding Corp (NASDAQ:PCTY) Will Announce Earnings of $0.25 Per Share

Equities analysts forecast that Paylocity Holding Corp (NASDAQ:PCTY) will announce earnings per share of $0.25 for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Paylocity’s earnings. The highest EPS estimate is $0.28 and the lowest is $0.22. Paylocity posted earnings of $0.11 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 127.3%. The business is expected to announce its next quarterly 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 forecast that the firm will post earnings of $1.67 per share, with EPS estimates ranging from $1.53 to $1.82. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Paylocity.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.60 earnings per share for the quarter, beating 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 business’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS.

A number of equities research analysts recently weighed in on PCTY shares. Zacks Investment Research lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 18th. Craig Hallum reaffirmed a “hold” rating and set a $97.00 price target (up from $78.00) on shares of Paylocity in a report on Friday, May 3rd. KeyCorp started coverage on shares of Paylocity in a report on Tuesday, April 16th. They set an “overweight” rating and a $104.00 price target for the company. Jefferies Financial Group raised their price target on shares of Paylocity from $85.00 to $103.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, ValuEngine lowered shares of Paylocity from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Five investment 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. Paylocity currently has an average rating of “Buy” and a consensus target price of $90.50.

PCTY opened at $98.29 on Thursday. The firm has a market cap of $5.21 billion, a P/E ratio of 144.54, a PEG ratio of 8.71 and a beta of 1.92. Paylocity has a twelve month low of $53.46 and a twelve month high of $103.80.

In other Paylocity news, COO Michael R. Haske sold 50,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $91.64, for a total transaction of $4,582,000.00. Following the completion of the transaction, the chief operating officer now directly owns 868,334 shares of the company’s stock, valued at approximately $79,574,127.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven R. Beauchamp sold 55,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $96.40, for a total transaction of $5,302,000.00. Following the transaction, the chief executive officer now directly owns 1,881,682 shares of the company’s stock, valued at $181,394,144.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 285,192 shares of company stock valued at $27,120,606. 41.20% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. lifted its position in Paylocity by 35.6% in the 1st quarter. Marshall Wace North America L.P. now owns 64,456 shares of the software maker’s stock valued at $5,749,000 after purchasing an additional 16,908 shares during the last quarter. Nordea Investment Management AB lifted its position in Paylocity by 1.6% in the 1st quarter. Nordea Investment Management AB now owns 61,542 shares of the software maker’s stock valued at $5,489,000 after purchasing an additional 954 shares during the last quarter. Man Group plc lifted its position in Paylocity by 16.0% in the 1st quarter. Man Group plc now owns 139,792 shares of the software maker’s stock valued at $12,468,000 after purchasing an additional 19,268 shares during the last quarter. Macquarie Group Ltd. bought a new stake in Paylocity in the 1st quarter valued at about $35,448,000. Finally, Osterweis Capital Management Inc. bought a new stake in Paylocity in the 1st quarter valued at about $707,000. 64.23% of the stock is owned by institutional investors.

About Paylocity

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.

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Earnings History and Estimates for Paylocity (NASDAQ:PCTY)

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