Zacks: Brokerages Anticipate Paylocity Holding Corp (NASDAQ:PCTY) Will Announce Earnings of $0.15 Per Share

Analysts expect Paylocity Holding Corp (NASDAQ:PCTY) to post earnings per share (EPS) of $0.15 for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Paylocity’s earnings, with estimates ranging from $0.10 to $0.19. Paylocity reported earnings per share of $0.36 during the same quarter last year, which would indicate a negative year-over-year growth rate of 58.3%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, November 5th.

According to Zacks, analysts expect that Paylocity will report full year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.60. For the next financial year, analysts expect that the business will post earnings of $2.03 per share, with EPS estimates ranging from $1.67 to $2.34. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Paylocity.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.19. Paylocity had a return on equity of 18.18% and a net margin of 11.48%. The firm had revenue of $130.60 million during the quarter, compared to the consensus estimate of $126.55 million. During the same period in the prior year, the business earned $0.34 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year.

Several research firms have recently issued reports on PCTY. Zacks Investment Research upgraded Paylocity from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Friday, July 31st. Craig Hallum raised their price objective on Paylocity from $136.00 to $156.00 and gave the stock a “buy” rating in a report on Friday, August 7th. KeyCorp reaffirmed an “overweight” rating on shares of Paylocity in a research report on Friday. BidaskClub raised Paylocity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Finally, Jefferies Financial Group increased their target price on Paylocity from $110.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Paylocity presently has an average rating of “Buy” and a consensus price target of $150.94.

PCTY stock opened at $190.81 on Wednesday. Paylocity has a 52-week low of $66.98 and a 52-week high of $196.37. The stock’s fifty day simple moving average is $161.42 and its 200-day simple moving average is $134.42. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 164.49, a price-to-earnings-growth ratio of 13.98 and a beta of 1.50.

In other Paylocity news, SVP Mark S. Kinsey sold 1,875 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $131.84, for a total value of $247,200.00. Following the transaction, the senior vice president now directly owns 62,568 shares of the company’s stock, valued at $8,248,965.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Toby J. Williams sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $131.69, for a total value of $921,830.00. Following the completion of the transaction, the chief financial officer now directly owns 116,020 shares in the company, valued at $15,278,673.80. The disclosure for this sale can be found here. Insiders sold 184,205 shares of company stock worth $25,683,595 over the last three months. 37.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in PCTY. Parametric Portfolio Associates LLC grew its stake in shares of Paylocity by 3.3% during the first quarter. Parametric Portfolio Associates LLC now owns 43,453 shares of the software maker’s stock valued at $3,838,000 after acquiring an additional 1,406 shares in the last quarter. Morgan Stanley grew its stake in shares of Paylocity by 4.0% during the first quarter. Morgan Stanley now owns 38,296 shares of the software maker’s stock valued at $3,382,000 after acquiring an additional 1,478 shares in the last quarter. AXA grew its stake in Paylocity by 20.9% in the first quarter. AXA now owns 90,400 shares of the software maker’s stock worth $7,984,000 after purchasing an additional 15,600 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Paylocity in the first quarter worth about $129,000. Finally, Jane Street Group LLC acquired a new position in Paylocity in the first quarter worth about $369,000. Institutional investors own 70.02% of the company’s stock.

About Paylocity

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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Earnings History and Estimates for Paylocity (NASDAQ:PCTY)

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