Brokerages Anticipate Paylocity Holding Corp (PCTY) Will Announce Earnings of $0.24 Per Share

Brokerages expect Paylocity Holding Corp (NASDAQ:PCTY) to report earnings per share (EPS) of $0.24 for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Paylocity’s earnings. The lowest EPS estimate is $0.21 and the highest is $0.28. Paylocity reported earnings of $0.16 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The firm is expected to announce its next earnings results on Thursday, February 14th.

On average, analysts expect that Paylocity will report full year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.60. For the next fiscal year, analysts forecast that the firm will report earnings of $1.66 per share, with EPS estimates ranging from $1.28 to $2.18. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Paylocity.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, November 1st. The software maker reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $100.50 million for the quarter, compared to the consensus estimate of $98.37 million. Paylocity had a net margin of 12.08% and a return on equity of 12.35%. Paylocity’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS.

Several analysts have weighed in on PCTY shares. Raymond James reissued a “buy” rating and set a $75.00 target price on shares of Paylocity in a research report on Monday, August 13th. Bank of America dropped their target price on shares of Paylocity from $91.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Royal Bank of Canada dropped their target price on shares of Paylocity from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Friday, August 10th. Jefferies Financial Group started coverage on shares of Paylocity in a research report on Monday, October 1st. They set a “hold” rating and a $88.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Paylocity has an average rating of “Hold” and an average target price of $68.36.

In related news, Director Steven I. Sarowitz sold 80,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $61.65, for a total value of $4,932,000.00. Following the completion of the transaction, the director now directly owns 14,771,651 shares in the company, valued at approximately $910,672,284.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Edward W. Gaty sold 5,609 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $67.65, for a total transaction of $379,448.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,109 shares of company stock valued at $11,527,499. Company insiders own 41.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PCTY. Marshall Wace LLP lifted its stake in shares of Paylocity by 644.4% in the 3rd quarter. Marshall Wace LLP now owns 589,796 shares of the software maker’s stock valued at $47,372,000 after purchasing an additional 510,562 shares during the period. Voya Investment Management LLC lifted its stake in shares of Paylocity by 3,670.3% in the 2nd quarter. Voya Investment Management LLC now owns 446,288 shares of the software maker’s stock valued at $26,269,000 after purchasing an additional 434,451 shares during the period. GW&K Investment Management LLC acquired a new position in shares of Paylocity in the 3rd quarter valued at $30,923,000. Standard Life Aberdeen plc lifted its stake in shares of Paylocity by 31.4% in the 2nd quarter. Standard Life Aberdeen plc now owns 1,469,941 shares of the software maker’s stock valued at $86,521,000 after purchasing an additional 350,996 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Paylocity by 15.0% in the 2nd quarter. BlackRock Inc. now owns 2,050,204 shares of the software maker’s stock valued at $120,674,000 after purchasing an additional 267,913 shares during the period. Hedge funds and other institutional investors own 64.11% of the company’s stock.

NASDAQ:PCTY opened at $64.81 on Tuesday. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 144.13, a P/E/G ratio of 5.51 and a beta of 2.18. Paylocity has a twelve month low of $41.15 and a twelve month high of $88.47.

Paylocity Company Profile

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.

Further Reading: Dow Jones Industrial Average (DJIA)

Get a free copy of the Zacks research report on Paylocity (PCTY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply