Paylocity Holding Corporation (PCTY) Updates Q2 Earnings Guidance
Paylocity Holding Corporation (NASDAQ:PCTY) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.11-0.13 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.12. The company issued revenue guidance of $84.3-85.3 million, compared to the consensus revenue estimate of $84.89 million.Paylocity Holding Corporation also updated its FY18 guidance to $0.84-0.85 EPS.
Shares of Paylocity Holding Corporation (NASDAQ PCTY) traded down $2.17 on Friday, reaching $50.31. The company’s stock had a trading volume of 702,037 shares, compared to its average volume of 228,371. The stock has a market capitalization of $2.70 billion, a P/E ratio of 234.50, a price-to-earnings-growth ratio of 7.03 and a beta of 2.24.
Paylocity Holding Corporation (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. The firm had revenue of $81.50 million during the quarter, compared to analyst estimates of $80.88 million. Paylocity Holding Corporation had a return on equity of 8.11% and a net margin of 3.11%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. analysts forecast that Paylocity Holding Corporation will post 0.27 earnings per share for the current year.
A number of equities analysts have recently weighed in on PCTY shares. Stifel Nicolaus restated a buy rating and issued a $55.00 target price (up previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Northland Securities restated a buy rating and issued a $55.00 target price on shares of Paylocity Holding Corporation in a research note on Sunday, September 10th. Bank of America Corporation boosted their target price on Paylocity Holding Corporation from $50.00 to $56.00 and gave the stock a buy rating in a research note on Tuesday, October 24th. Zacks Investment Research upgraded Paylocity Holding Corporation from a hold rating to a buy rating and set a $53.00 target price on the stock in a research note on Tuesday, July 18th. Finally, Mizuho restated a hold rating and issued a $45.00 target price on shares of Paylocity Holding Corporation in a research note on Thursday, October 12th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $52.43.
In related news, VP Michael R. Haske sold 88,600 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $45.21, for a total value of $4,005,606.00. Following the transaction, the vice president now owns 1,189,606 shares in the company, valued at $53,782,087.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $44.81, for a total value of $8,962,000.00. Following the completion of the transaction, the director now owns 16,212,317 shares in the company, valued at approximately $726,473,924.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,563,715 shares of company stock worth $70,723,858. 48.80% of the stock is owned by company insiders.
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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.
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