Analysts predict that Paylocity Holding Corp (NASDAQ:PCTY) will announce $0.12 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for Paylocity’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.15. Paylocity posted earnings per share of $0.09 in the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The company is expected to announce its next quarterly earnings report 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 financial year, analysts forecast that the firm will post earnings of $1.04 per share, with EPS estimates ranging from $0.90 to $1.21. Zacks’ earnings per share averages are a mean average based on a survey of research analysts 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 for the quarter, beating analysts’ consensus estimates of $0.47 by $0.39. The firm had revenue of $113.41 million during the quarter, compared to analyst estimates of $110.74 million. Paylocity had a return on equity of 11.74% and a net margin of 10.17%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share.
A number of research firms have recently weighed in on PCTY. BidaskClub lowered Paylocity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 3rd. SunTrust Banks raised Paylocity from a “hold” rating to a “buy” rating and dropped their price objective for the company from $52.72 to $45.00 in a research note on Monday, March 12th. Robert W. Baird increased their price objective on Paylocity to $56.00 and gave the company an “outperform” rating in a research note on Monday, May 7th. Mizuho reissued a “hold” rating and set a $45.00 price objective on shares of Paylocity in a research note on Tuesday, April 24th. Finally, TheStreet raised Paylocity from a “c+” rating to a “b+” rating in a research note on Wednesday, May 23rd. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $55.33.
Shares of NASDAQ:PCTY traded up $0.07 during trading on Tuesday, reaching $59.17. 199,300 shares of the company traded hands, compared to its average volume of 262,858. The firm has a market cap of $3.26 billion, a PE ratio of 394.47, a price-to-earnings-growth ratio of 7.45 and a beta of 2.00. Paylocity has a 52-week low of $41.15 and a 52-week high of $64.21.
In related news, SVP Edward W. Gaty sold 14,287 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $59.92, for a total value of $856,077.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. Diehl sold 250,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $61.50, for a total value of $15,375,000.00. The disclosure for this sale can be found here. Insiders sold 494,072 shares of company stock valued at $29,279,094 in the last ninety days. 48.80% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in Paylocity by 4.5% in the first quarter. Principal Financial Group Inc. now owns 21,816 shares of the software maker’s stock worth $1,117,000 after acquiring an additional 943 shares during the period. California Public Employees Retirement System raised its holdings in Paylocity by 16.2% in the fourth quarter. California Public Employees Retirement System now owns 8,600 shares of the software maker’s stock worth $406,000 after purchasing an additional 1,200 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Paylocity by 17.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,293 shares of the software maker’s stock worth $425,000 after purchasing an additional 1,244 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Paylocity by 8.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 17,270 shares of the software maker’s stock worth $814,000 after purchasing an additional 1,339 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in Paylocity by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 302,713 shares of the software maker’s stock worth $15,508,000 after purchasing an additional 1,427 shares in the last quarter. 63.12% of the stock is owned by institutional investors.
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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