Paylocity (PCTY) to Release Quarterly Earnings on Thursday

Paylocity (NASDAQ:PCTY - Get Free Report) will be issuing 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.Investors interested in registering for the company's conference call can do so using this link.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The company had revenue of $326.36 million during 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 Stock Up 0.3 %

Shares of NASDAQ PCTY traded up $0.42 during midday trading on Thursday, hitting $156.58. The stock had a trading volume of 363,834 shares, compared to its average volume of 463,499. Paylocity has a 1-year low of $139.40 and a 1-year high of $230.52. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 52.90, a PEG ratio of 3.44 and a beta of 0.87. The company has a fifty day moving average price of $167.57 and a 200 day moving average price of $165.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Paylocity from $207.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, February 9th. JMP Securities reiterated a "market outperform" rating and issued a $250.00 target price on shares of Paylocity in a research note on Monday, January 22nd. Needham & Company LLC reissued a "buy" rating and set a $200.00 price target on shares of Paylocity in a research report on Friday, February 9th. KeyCorp lowered their price objective on shares of Paylocity from $197.00 to $186.00 and set an "overweight" rating for the company in a research report on Friday, February 9th. Finally, Mizuho reduced their target price on shares of Paylocity from $170.00 to $155.00 and set a "neutral" rating on the stock in a research report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $205.13.

Insider Activity

In other news, Director Steven I. Sarowitz sold 24,504 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the sale, the director now owns 9,587,872 shares of the company's stock, valued at approximately $1,682,383,899.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Katherine Ross sold 491 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total value of $82,630.39. Following the sale, the senior vice president now directly owns 15,353 shares in the company, valued at approximately $2,583,756.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven I. Sarowitz sold 24,504 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $175.47, for a total value of $4,299,716.88. Following the sale, the director now directly owns 9,587,872 shares in the company, valued at approximately $1,682,383,899.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,547 shares of company stock worth $9,356,359. Company insiders own 22.50% of the company's stock.

About Paylocity

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.