Paylocity (PCTY) Scheduled to Post Quarterly Earnings on Thursday

Paylocity (NASDAQ:PCTY) is scheduled to issue its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.94 per share for the quarter. Paylocity has set its Q3 2024 guidance at EPS and its FY 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The firm had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. On average, analysts expect Paylocity to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Paylocity Price Performance

NASDAQ PCTY opened at $155.16 on Wednesday. The firm has a market capitalization of $8.74 billion, a P/E ratio of 52.42, a P/E/G ratio of 3.42 and a beta of 0.87. Paylocity has a 1-year low of $139.40 and a 1-year high of $230.52. The business’s 50-day simple moving average is $166.35 and its 200-day simple moving average is $163.94.

Insider Activity

In other news, Director Jeffrey T. Diehl sold 20,032 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the sale, the director now directly owns 16,391 shares in the company, valued at approximately $2,762,703.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Steven I. Sarowitz sold 24,504 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the transaction, the director now owns 9,587,872 shares in the company, valued at approximately $1,682,383,899.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 20,032 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the transaction, the director now owns 16,391 shares of the company’s stock, valued at approximately $2,762,703.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,547 shares of company stock worth $9,356,359. 22.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PCTY shares. Mizuho reduced their price objective on Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Needham & Company LLC reiterated a “buy” rating and set a $200.00 target price on shares of Paylocity in a report on Friday, February 9th. Truist Financial dropped their target price on Paylocity from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 9th. Piper Sandler raised their target price on Paylocity from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, BTIG Research assumed coverage on Paylocity in a report on Tuesday, February 6th. They set a “buy” rating and a $200.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.