Zacks: Brokerages Expect Paylocity Holding Corp (PCTY) to Announce $0.12 EPS

Equities research analysts expect Paylocity Holding Corp (NASDAQ:PCTY) to post earnings per share (EPS) of $0.12 for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Paylocity’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.15. Paylocity reported earnings per share of $0.09 in the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The firm is expected to announce its next earnings results on Thursday, August 9th.

On average, analysts expect that Paylocity will report full-year earnings of $0.95 per share for the current financial year, with EPS estimates ranging from $0.91 to $0.99. For the next year, analysts expect that the firm will post earnings of $1.04 per share, with EPS estimates ranging from $0.90 to $1.21. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Paylocity.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, May 3rd. The software maker reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.39. The business had revenue of $113.41 million during the quarter, compared to analysts’ expectations of $110.74 million. Paylocity had a net margin of 10.17% and a return on equity of 11.74%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS.



Several equities analysts have issued reports on the stock. Mizuho restated a “hold” rating and issued a $45.00 price target on shares of Paylocity in a research report on Thursday, May 3rd. Stifel Nicolaus upped their price target on shares of Paylocity from $50.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, May 4th. Robert W. Baird upped their price target on shares of Paylocity to $56.00 and gave the company an “outperform” rating in a research report on Monday, May 7th. Zacks Investment Research upgraded shares of Paylocity from a “sell” rating to a “hold” rating in a research report on Thursday, May 10th. Finally, TheStreet upgraded shares of Paylocity from a “c+” rating to a “b+” rating in a research report on Wednesday, May 23rd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.33.

NASDAQ PCTY traded down $1.65 on Tuesday, hitting $61.90. The company’s stock had a trading volume of 618,503 shares, compared to its average volume of 248,478. Paylocity has a 1-year low of $41.15 and a 1-year high of $64.21. The stock has a market cap of $3.35 billion, a P/E ratio of 176.53, a price-to-earnings-growth ratio of 7.65 and a beta of 2.00.

In other news, SVP Edward W. Gaty sold 14,287 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $59.92, for a total value of $856,077.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey T. Diehl sold 250,000 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $61.50, for a total transaction of $15,375,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 494,072 shares of company stock worth $29,279,094. Insiders own 48.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Paylocity by 4.5% in the 1st quarter. Principal Financial Group Inc. now owns 21,816 shares of the software maker’s stock valued at $1,117,000 after purchasing an additional 943 shares during the last quarter. California Public Employees Retirement System boosted its stake in Paylocity by 16.2% during the fourth quarter. California Public Employees Retirement System now owns 8,600 shares of the software maker’s stock worth $406,000 after acquiring an additional 1,200 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Paylocity by 17.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,293 shares of the software maker’s stock worth $425,000 after acquiring an additional 1,244 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Paylocity by 8.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 17,270 shares of the software maker’s stock worth $814,000 after acquiring an additional 1,339 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Paylocity by 0.5% during the first quarter. OppenheimerFunds Inc. now owns 302,713 shares of the software maker’s stock worth $15,508,000 after acquiring an additional 1,427 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

About Paylocity

Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; 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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