Brokers Issue Forecasts for Paylocity FY2029 Earnings

Key Points

• Zacks Research forecasts FY2029 EPS of $8.28 for Paylocity, above the current full-year consensus estimate of $6.86; it maintains a “Hold” rating.
• Analyst sentiment remains broadly positive, with 12 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $160.53, despite several recent target-price cuts.
• Paylocity’s latest quarterly results exceeded expectations, with EPS of $1.84 versus $1.62 expected and revenue of $444.73 million, up 11% year over year. The stock opened at $152.24, while insiders have sold $4.55 million of shares over the past 90 days.

Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) - Stock analysts at Zacks Research issued their FY2029 earnings per share (EPS) estimates for Paylocity in a report issued on Tuesday, August 25th. Zacks Research analyst Team forecasts that the software maker will post earnings of $8.28 per share for the year. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Paylocity's current full-year earnings is $6.86 per share.

A number of other equities analysts have also recently issued reports on the company. Truist Financial decreased their target price on Paylocity from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Raymond James Financial set a $140.00 price objective on Paylocity in a report on Friday, May 8th. Stephens cut their price target on shares of Paylocity from $160.00 to $120.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Jefferies Financial Group restated a "buy" rating and issued a $165.00 price target on shares of Paylocity in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Paylocity from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.53.

Paylocity Trading Down 0.1%

Paylocity stock opened at $152.24 on Wednesday. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 30.76 and a beta of 0.47. Paylocity has a 1 year low of $92.99 and a 1 year high of $181.97. The firm's 50 day moving average price is $128.01 and its two-hundred day moving average price is $115.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.22. The company had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.56 EPS.

Insider Activity at Paylocity

In other news, SVP Joshua Scutt sold 4,730 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $149.82, for a total transaction of $708,648.60. Following the transaction, the senior vice president directly owned 75,729 shares in the company, valued at $11,345,718.78. The trade was a 5.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew Cappotelli sold 2,550 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total transaction of $382,066.50. Following the completion of the transaction, the senior vice president directly owned 44,329 shares in the company, valued at $6,641,814.07. This trade represents a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,300 shares of company stock worth $4,553,607 in the last 90 days. 19.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. boosted its holdings in Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Global Retirement Partners LLC bought a new position in Paylocity during the second quarter valued at about $27,000. Basecamp Wealth Advisors LLC raised its holdings in Paylocity by 4,250.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock valued at $28,000 after buying an additional 255 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Paylocity in the fourth quarter worth about $30,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Paylocity by 500.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock worth $36,000 after acquiring an additional 285 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Company Profile

Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.

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