Paylocity (NASDAQ:PCTY) released its quarterly earnings data on Thursday. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02, Morningstar.com reports. The firm had revenue of $100.50 million during the quarter, compared to analysts’ expectations of $98.37 million. Paylocity had a return on equity of 12.44% and a net margin of 10.22%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share.
Shares of NASDAQ:PCTY traded down $3.54 on Friday, reaching $62.62. The company had a trading volume of 509,997 shares, compared to its average volume of 278,137. Paylocity has a twelve month low of $41.15 and a twelve month high of $88.47. The stock has a market capitalization of $3.36 billion, a P/E ratio of 202.00, a P/E/G ratio of 3.69 and a beta of 2.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.08 and a quick ratio of 1.08.
A number of research firms recently issued reports on PCTY. Jefferies Financial Group reduced their price objective on Paylocity to $79.00 and set a “hold” rating for the company in a research report on Friday. Bank of America reduced their price objective on Paylocity from $91.00 to $78.00 and set a “buy” rating for the company in a research report on Friday. Robert W. Baird lifted their price objective on Paylocity from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday. BidaskClub cut Paylocity from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Finally, Royal Bank of Canada reduced their price objective on Paylocity from $68.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, August 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $68.36.
In other Paylocity news, Director Jeffrey T. Diehl sold 750,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $65.75, for a total value of $49,312,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Edward W. Gaty sold 7,614 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $78.90, for a total value of $600,744.60. Following the completion of the sale, the senior vice president now directly owns 126,392 shares of the company’s stock, valued at approximately $9,972,328.80. The disclosure for this sale can be found here. Insiders sold 1,002,124 shares of company stock valued at $65,904,551 in the last ninety days. Insiders own 41.20% of the company’s stock.
Large investors have recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in shares of Paylocity by 316.7% during the 1st quarter. California Public Employees Retirement System now owns 35,838 shares of the software maker’s stock worth $1,836,000 after purchasing an additional 27,238 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Paylocity by 64.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 294,017 shares of the software maker’s stock worth $15,062,000 after purchasing an additional 115,202 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Paylocity during the 1st quarter worth about $277,000. Principal Financial Group Inc. lifted its position in shares of Paylocity by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 21,816 shares of the software maker’s stock worth $1,117,000 after purchasing an additional 943 shares during the last quarter. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Paylocity during the 1st quarter worth about $254,000. 65.36% of the stock is owned by institutional investors.
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.
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