Paylocity (NASDAQ:PCTY) Announces Earnings Results

Paylocity (NASDAQ:PCTY) issued its earnings results on Thursday. The software maker reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19, Briefing.com reports. The business had revenue of $357.30 million during the quarter, compared to analyst estimates of $350.29 million. Paylocity had a return on equity of 22.40% and a net margin of 14.74%. Paylocity’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. Paylocity updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

Paylocity Price Performance

Paylocity stock traded up $9.86 during trading hours on Friday, hitting $158.09. 1,074,054 shares of the stock traded hands, compared to its average volume of 489,055. The firm’s 50 day moving average price is $140.64 and its 200-day moving average price is $156.87. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 45.96, a P/E/G ratio of 2.59 and a beta of 0.92. Paylocity has a 1 year low of $129.94 and a 1 year high of $217.13.

Analyst Ratings Changes

A number of brokerages have weighed in on PCTY. TD Cowen decreased their target price on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Barclays decreased their target price on Paylocity from $178.00 to $160.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group decreased their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Truist Financial reduced their price target on Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Piper Sandler reduced their price target on Paylocity from $194.00 to $172.00 and set an “overweight” rating for the company in a research report on Friday. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.41.

Insider Buying and Selling at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the sale, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Nicholas Rost sold 331 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the sale, the chief accounting officer now owns 4,751 shares in the company, valued at $659,106.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,173 shares of company stock worth $7,296,388. 22.50% of the stock is currently owned by insiders.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.