Paylocity (PCTY) Set to Announce Earnings on Thursday

Paylocity (NASDAQ:PCTYGet Rating) is set to post its quarterly earnings results after the market closes on Thursday, May 5th. Analysts expect Paylocity to post earnings of $0.59 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Paylocity (NASDAQ:PCTYGet Rating) last announced its quarterly earnings results on Wednesday, February 2nd. The software maker reported $0.64 EPS for the quarter, beating the consensus estimate of $0.06 by $0.58. Paylocity had a return on equity of 16.99% and a net margin of 12.24%. The company had revenue of $196.04 million for the quarter, compared to the consensus estimate of $187.87 million. During the same quarter last year, the company posted $0.19 earnings per share. On average, analysts expect Paylocity to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of PCTY stock opened at $189.19 on Thursday. Paylocity has a 12 month low of $154.26 and a 12 month high of $314.49. The business’s 50 day moving average is $200.90 and its two-hundred day moving average is $227.65. The company has a market cap of $10.43 billion, a PE ratio of 119.74 and a beta of 1.31.

In other Paylocity news, Director Steven I. Sarowitz sold 22,091 shares of the stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $198.99, for a total transaction of $4,395,888.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven I. Sarowitz sold 47,120 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $203.10, for a total value of $9,570,072.00. The disclosure for this sale can be found here. Corporate insiders own 28.80% of the company’s stock.

Several large investors have recently made changes to their positions in PCTY. BlackRock Inc. increased its stake in shares of Paylocity by 3.6% in the fourth quarter. BlackRock Inc. now owns 4,053,700 shares of the software maker’s stock valued at $957,322,000 after buying an additional 139,502 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Paylocity by 27.4% in the fourth quarter. Stifel Financial Corp now owns 35,098 shares of the software maker’s stock valued at $8,288,000 after buying an additional 7,547 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Paylocity by 427.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,552 shares of the software maker’s stock valued at $1,547,000 after buying an additional 5,309 shares in the last quarter. OLD Mission Capital LLC acquired a new stake in shares of Paylocity in the third quarter valued at $662,000. Finally, Comerica Bank increased its stake in shares of Paylocity by 2.3% in the third quarter. Comerica Bank now owns 117,303 shares of the software maker’s stock valued at $34,520,000 after buying an additional 2,652 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.

Several brokerages have commented on PCTY. KeyCorp lowered their price target on Paylocity from $325.00 to $225.00 and set an “overweight” rating on the stock in a report on Tuesday, January 25th. Mizuho reduced their price objective on Paylocity from $250.00 to $185.00 in a research report on Friday, January 28th. BMO Capital Markets began coverage on Paylocity in a research report on Tuesday, February 1st. They issued an “outperform” rating and a $230.00 price objective for the company. Credit Suisse Group began coverage on Paylocity in a research report on Wednesday, March 23rd. They issued a “neutral” rating and a $225.00 price objective for the company. Finally, Piper Sandler raised Paylocity from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $244.00 to $249.00 in a research report on Friday, February 4th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $259.88.

About Paylocity (Get Rating)

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.

See Also

Earnings History for Paylocity (NASDAQ:PCTY)

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