Paylocity Holding Corporation (NASDAQ:PCTY) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $0.78-0.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.78. The company issued revenue guidance of $368-370 million, compared to the consensus revenue estimate of $370.78 million.Paylocity Holding Corporation also updated its Q1 guidance to $0.10-0.12 EPS.

Several analysts have weighed in on the company. Mizuho reiterated a hold rating and set a $45.00 price target on shares of Paylocity Holding Corporation in a research note on Thursday. Raymond James Financial, Inc. set a $55.00 price target on Paylocity Holding Corporation and gave the company a buy rating in a research note on Wednesday. BidaskClub downgraded Paylocity Holding Corporation from a buy rating to a hold rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Paylocity Holding Corporation from a buy rating to a hold rating in a research note on Wednesday, July 19th. Finally, JMP Securities reiterated an outperform rating and set a $54.00 price target on shares of Paylocity Holding Corporation in a research note on Tuesday, July 18th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $50.17.

Shares of Paylocity Holding Corporation (PCTY) traded down 2.98% during mid-day trading on Thursday, hitting $43.35. The stock had a trading volume of 290,971 shares. The firm has a 50 day moving average price of $46.00 and a 200 day moving average price of $41.14. Paylocity Holding Corporation has a 52-week low of $29.69 and a 52-week high of $49.65. The firm has a market cap of $2.23 billion, a PE ratio of 433.50 and a beta of 2.26.

In other news, SVP Edward W. Gaty sold 4,257 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $44.78, for a total transaction of $190,628.46. Following the sale, the senior vice president now owns 85,934 shares of the company’s stock, valued at approximately $3,848,124.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 172,699 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $44.37, for a total value of $7,662,654.63. Following the sale, the director now directly owns 16,337,902 shares in the company, valued at approximately $724,912,711.74. The disclosure for this sale can be found here. Insiders have sold a total of 355,021 shares of company stock worth $15,942,057 in the last three months. Corporate insiders own 53.10% of the company’s stock.

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About Paylocity Holding Corporation

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

Earnings History and Estimates for Paylocity Holding Corporation (NASDAQ:PCTY)

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