Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications. In addition, the company offers talent management solutions comprising recruiting and onboarding, as well as learning, performance, and compensation management; employee benefits management and third-party administrative solutions; modern workforce solutions consisting of community, premium video, survey, and peer recognition; and analytics and insights solutions covering modern workforce index, data insights, and reporting. Further, it provides implementation and training, client, and tax and regulatory services. The company's clients include for-profit and non-profit organizations across industries, including business services, financial services, healthcare, manufacturing, restaurants, retail, technology, and others. It sells its products through sales representatives. The company was founded in 1997 and is headquartered in Schaumburg, Illinois.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. DA Davidson increased their price objective on Paylocity to $270.00 in a research note on Tuesday, August 9th. Robert W. Baird increased their price objective on Paylocity from $274.00 to $305.00 and gave the company an "outperform" rating in a research note on Friday, August 5th. KeyCorp increased their price objective on Paylocity from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Monday. Piper Sandler increased their price objective on Paylocity from $195.00 to $269.00 and gave the company an "overweight" rating in a research note on Friday, August 5th. Finally, Raymond James increased their price objective on Paylocity from $245.00 to $265.00 in a research note on Friday, August 5th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Paylocity presently has an average rating of "Moderate Buy" and an average price target of $267.19.
Paylocity Trading Down 1.0 %
NASDAQ:PCTY traded down $2.70 during mid-day trading on Thursday, reaching $266.48. 199,184 shares of the company's stock traded hands, compared to its average volume of 293,614. Paylocity has a 1-year low of $152.01 and a 1-year high of $314.49. The company has a fifty day simple moving average of $198.66 and a 200-day simple moving average of $195.64. The company has a market cap of $14.69 billion, a price-to-earnings ratio of 165.52 and a beta of 1.27.
Paylocity (NASDAQ:PCTY - Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The software maker reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.28. Paylocity had a return on equity of 17.29% and a net margin of 10.65%. The firm had revenue of $228.95 million during the quarter, compared to analyst estimates of $217.96 million. During the same quarter last year, the firm earned $0.24 EPS. Paylocity's quarterly revenue was up 36.7% on a year-over-year basis. Equities research analysts forecast that Paylocity will post 1.97 earnings per share for the current fiscal year.
Insider Transactions at Paylocity
In other news, COO Michael R. Haske sold 33,355 shares of Paylocity stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $200.00, for a total value of $6,671,000.00. Following the completion of the transaction, the chief operating officer now owns 775,885 shares in the company, valued at approximately $155,177,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Michael R. Haske sold 33,355 shares of the business's stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $200.00, for a total transaction of $6,671,000.00. Following the completion of the transaction, the chief operating officer now owns 775,885 shares in the company, valued at approximately $155,177,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Glenn sold 1,500 shares of the business's stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $200.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 16,910 shares of the company's stock, valued at approximately $3,382,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,350 shares of company stock worth $17,126,916. 28.80% of the stock is currently owned by corporate insiders.
