Paylocity Holding Corp (NASDAQ:PCTY) Expected to Post Earnings of $0.27 Per Share

Analysts expect that Paylocity Holding Corp (NASDAQ:PCTY) will report earnings of $0.27 per share for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Paylocity’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.23. Paylocity posted earnings of $0.20 per share in the same quarter last year, which indicates a positive year over year growth rate of 35%. The firm is expected to announce its next earnings report on Thursday, November 7th.

On average, analysts expect that Paylocity will report full year earnings of $1.67 per share for the current financial year, with EPS estimates ranging from $1.54 to $1.79. For the next year, analysts expect that the company will post earnings of $2.07 per share, with EPS estimates ranging from $1.87 to $2.24. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Paylocity.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.27. The business had revenue of $120.37 million during the quarter, compared to the consensus estimate of $117.51 million. Paylocity had a net margin of 11.57% and a return on equity of 18.19%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS.

A number of equities research analysts have issued reports on the stock. SunTrust Banks increased their target price on shares of Paylocity from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group increased their target price on shares of Paylocity to $115.00 in a research report on Thursday, August 8th. BidaskClub upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada reiterated a “neutral” rating on shares of Paylocity in a research report on Sunday, August 11th. Finally, ValuEngine downgraded shares of Paylocity from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $105.67.

In other news, insider Mark S. Kinsey sold 635 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $103.34, for a total transaction of $65,620.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronald V. Waters sold 4,516 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $106.30, for a total transaction of $480,050.80. Following the transaction, the director now owns 14,415,427 shares in the company, valued at approximately $1,532,359,890.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,076 shares of company stock worth $26,692,978. 41.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Paylocity by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,586,579 shares of the software maker’s stock worth $148,853,000 after purchasing an additional 7,130 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in Paylocity by 4.5% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,476,188 shares of the software maker’s stock valued at $138,496,000 after buying an additional 63,940 shares during the last quarter. Invesco Ltd. grew its stake in Paylocity by 636.8% in the 2nd quarter. Invesco Ltd. now owns 757,846 shares of the software maker’s stock valued at $71,101,000 after buying an additional 654,996 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Paylocity by 2.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 603,401 shares of the software maker’s stock valued at $56,611,000 after buying an additional 14,764 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in Paylocity by 5.3% in the 1st quarter. Blair William & Co. IL now owns 565,793 shares of the software maker’s stock valued at $50,463,000 after buying an additional 28,728 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

PCTY stock traded up $2.88 during midday trading on Friday, reaching $97.16. The company had a trading volume of 232,538 shares, compared to its average volume of 342,697. Paylocity has a 1 year low of $53.46 and a 1 year high of $112.46. The company has a market capitalization of $5.00 billion, a P/E ratio of 89.96, a PEG ratio of 4.66 and a beta of 1.57. The company has a 50 day moving average of $101.98 and a two-hundred day moving average of $97.97.

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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