Zacks Research Estimates Paylocity FY2029 Earnings

Paylocity Holding Corporation (NASDAQ:PCTY) – Analysts at Zacks Research issued their FY2029 earnings per share estimates for Paylocity in a research report issued to clients and investors on Tuesday, August 25th. Zacks Research analyst Team forecasts that the software maker will post earnings of $8.28 per share for the year. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Paylocity’s current full-year earnings is $6.86 per share.

A number of other analysts have also recently commented on the stock. BMO Capital Markets upped their price objective on shares of Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Citizens Jmp decreased their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price target on shares of Paylocity in a research report on Wednesday, August 5th. Raymond James Financial set a $140.00 price objective on Paylocity in a research report on Friday, May 8th. Finally, Citigroup reiterated a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $160.53.

Paylocity Trading Down 0.1%

Shares of NASDAQ PCTY opened at $152.24 on Wednesday. The company’s 50 day simple moving average is $128.01 and its 200 day simple moving average is $115.47. Paylocity has a fifty-two week low of $92.99 and a fifty-two week high of $181.97. The firm has a market capitalization of $8.08 billion, a P/E ratio of 30.76 and a beta of 0.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The business had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. During the same period in the previous year, the business earned $1.56 EPS. Paylocity’s revenue was up 11.0% compared to the same quarter last year.

Insider Activity

In related news, CFO Ryan Glenn sold 3,345 shares of Paylocity stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total transaction of $500,913.75. Following the completion of the transaction, the chief financial officer owned 122,563 shares in the company, valued at approximately $18,353,809.25. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven I. Sarowitz sold 11,136 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $150.81, for a total value of $1,679,420.16. Following the transaction, the director directly owned 4,535,052 shares in the company, valued at $683,931,192.12. The trade was a 0.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,300 shares of company stock valued at $4,553,607 over the last quarter. 19.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in shares of Paylocity in the fourth quarter valued at about $30,000. Advisory Services Network LLC acquired a new stake in Paylocity in the 3rd quarter worth about $38,000. Optiver Holding B.V. boosted its holdings in Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Paylocity during the 2nd quarter worth approximately $27,000. Finally, Basecamp Wealth Advisors LLC increased its holdings in shares of Paylocity by 4,250.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after purchasing an additional 255 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.