$0.22 EPS Expected for Paylocity Holding Corp (PCTY) This Quarter

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Analysts forecast that Paylocity Holding Corp (NASDAQ:PCTY) will announce earnings of $0.22 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Paylocity’s earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.16. Paylocity posted earnings of $0.15 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 46.7%. The business is scheduled to issue its next earnings results on Thursday, November 1st.

On average, analysts expect that Paylocity will report full-year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.17 to $1.62. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.77 per share, with EPS estimates ranging from $1.43 to $2.18. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Paylocity.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, August 9th. The software maker reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $96.62 million for the quarter, compared to the consensus estimate of $93.33 million. Paylocity had a net margin of 10.22% and a return on equity of 12.44%. Paylocity’s revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share.

A number of research firms have recently commented on PCTY. Jefferies Financial Group began coverage on Paylocity in a research note on Monday, October 1st. They set a “hold” rating and a $88.00 target price on the stock. Bank of America lifted their target price on Paylocity from $73.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. BidaskClub cut Paylocity from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Guggenheim began coverage on Paylocity in a research note on Monday, August 20th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Zacks Investment Research upgraded Paylocity from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, August 14th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $69.71.

Shares of NASDAQ PCTY traded down $1.32 during mid-day trading on Monday, reaching $71.66. 455,600 shares of the company’s stock were exchanged, compared to its average volume of 276,944. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 231.16, a PEG ratio of 4.27 and a beta of 2.11. Paylocity has a 52 week low of $41.15 and a 52 week high of $88.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.08 and a quick ratio of 1.08.

In related news, SVP Edward W. Gaty sold 7,614 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $78.90, for a total value of $600,744.60. Following the sale, the senior vice president now directly owns 126,392 shares in the company, valued at approximately $9,972,328.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark S. Kinsey sold 386 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $66.65, for a total value of $25,726.90. Following the completion of the sale, the senior vice president now owns 86,331 shares in the company, valued at $5,753,961.15. The disclosure for this sale can be found here. Insiders sold a total of 1,002,124 shares of company stock worth $65,904,551 over the last 90 days. 48.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in Paylocity by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 21,816 shares of the software maker’s stock valued at $1,117,000 after buying an additional 943 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in Paylocity by 8.0% during the 2nd quarter. MetLife Investment Advisors LLC now owns 13,301 shares of the software maker’s stock valued at $783,000 after buying an additional 989 shares in the last quarter. US Bancorp DE grew its holdings in Paylocity by 10.4% during the 2nd quarter. US Bancorp DE now owns 10,871 shares of the software maker’s stock valued at $640,000 after buying an additional 1,020 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Paylocity by 13.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 9,895 shares of the software maker’s stock valued at $582,000 after buying an additional 1,166 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Paylocity by 16.4% during the 2nd quarter. Bank of Montreal Can now owns 8,491 shares of the software maker’s stock valued at $500,000 after buying an additional 1,198 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

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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