Zacks: Brokerages Anticipate Paylocity Holding Co. (NASDAQ:PCTY) to Announce $0.52 EPS

Analysts forecast that Paylocity Holding Co. (NASDAQ:PCTYGet Rating) will announce $0.52 earnings per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Paylocity’s earnings. The highest EPS estimate is $0.57 and the lowest is $0.47. Paylocity posted earnings of $0.46 per share in the same quarter last year, which would indicate a positive year over year growth rate of 13%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Paylocity will report full year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.92 to $3.02. For the next year, analysts forecast that the business will post earnings of $3.14 per share, with EPS estimates ranging from $2.99 to $3.23. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Paylocity.

Paylocity (NASDAQ:PCTYGet Rating) last issued its earnings results on Thursday, May 5th. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $0.91 by $0.31. The company had revenue of $245.97 million during the quarter, compared to analysts’ expectations of $241.64 million. Paylocity had a net margin of 11.06% and a return on equity of 17.32%. The business’s revenue for the quarter was up 32.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS.

Several brokerages have recently commented on PCTY. Wolfe Research upgraded shares of Paylocity from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $220.00 to $240.00 in a research report on Friday, April 22nd. Citigroup initiated coverage on shares of Paylocity in a research report on Tuesday, February 1st. They set a “buy” rating and a $230.00 price objective for the company. StockNews.com initiated coverage on shares of Paylocity in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Jefferies Financial Group decreased their price target on shares of Paylocity from $255.00 to $200.00 in a research report on Monday. Finally, Credit Suisse Group initiated coverage on shares of Paylocity in a research note on Wednesday, March 23rd. They issued a “neutral” rating and a $225.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $250.18.

Shares of NASDAQ:PCTY opened at $167.76 on Tuesday. The firm has a 50 day moving average of $193.66 and a 200-day moving average of $212.02. The stock has a market capitalization of $9.25 billion, a PE ratio of 108.23 and a beta of 1.30. Paylocity has a 12 month low of $152.97 and a 12 month high of $314.49.

In related news, Director Steven I. Sarowitz sold 22,091 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The shares were 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 SEC, which can be accessed through this hyperlink. Also, CAO Nicholas Rost sold 276 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $200.00, for a total transaction of $55,200.00. Following the transaction, the chief accounting officer now directly owns 2,816 shares in the company, valued at $563,200. The disclosure for this sale can be found here. Insiders have sold 118,417 shares of company stock valued at $22,002,622 over the last quarter. Corporate insiders own 28.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCTY. Capital Research Global Investors lifted its position in shares of Paylocity by 315.2% during the third quarter. Capital Research Global Investors now owns 735,262 shares of the software maker’s stock valued at $206,167,000 after purchasing an additional 558,180 shares in the last quarter. Invesco Ltd. raised its position in Paylocity by 60.4% in the third quarter. Invesco Ltd. now owns 1,047,561 shares of the software maker’s stock worth $293,736,000 after acquiring an additional 394,456 shares during the period. Norges Bank bought a new stake in Paylocity in the fourth quarter worth about $89,299,000. American Century Companies Inc. raised its position in Paylocity by 120.9% in the fourth quarter. American Century Companies Inc. now owns 542,292 shares of the software maker’s stock worth $128,068,000 after acquiring an additional 296,846 shares during the period. Finally, BlackRock Inc. raised its position in Paylocity by 3.6% in the fourth quarter. BlackRock Inc. now owns 4,053,700 shares of the software maker’s stock worth $957,322,000 after acquiring an additional 139,502 shares during the period. 69.01% of the stock is currently owned by institutional investors.

Paylocity Company Profile (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.

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