Equities research analysts expect that Paylocity Holding Corporation (NASDAQ:PCTY) will report earnings per share of ($0.10) for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Paylocity Holding Corporation’s earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.11). Paylocity Holding Corporation also reported earnings of ($0.10) per share during the same quarter last year. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, August 10th.
According to Zacks, analysts expect that Paylocity Holding Corporation will report full year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.11 to $0.16. For the next financial year, analysts forecast that the company will report earnings of $0.31 per share, with EPS estimates ranging from $0.19 to $0.38. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Paylocity Holding Corporation.
Several research analysts have recently weighed in on the stock. Deutsche Bank AG boosted their price objective on shares of Paylocity Holding Corporation from $55.00 to $60.00 and gave the company a “buy” rating in a report on Monday, May 15th. Zacks Investment Research raised shares of Paylocity Holding Corporation from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective for the company in a report on Wednesday, May 10th. Needham & Company LLC reissued a “buy” rating and set a $46.00 price objective (up from $40.00) on shares of Paylocity Holding Corporation in a report on Friday, May 5th. Royal Bank Of Canada boosted their price objective on shares of Paylocity Holding Corporation from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Finally, BidaskClub cut shares of Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $48.82.
Shares of Paylocity Holding Corporation (PCTY) traded down 0.68% during midday trading on Friday, reaching $43.92. 321,495 shares of the company’s stock were exchanged. Paylocity Holding Corporation has a 12-month low of $29.69 and a 12-month high of $49.65. The stock has a market capitalization of $2.26 billion, a P/E ratio of 439.20 and a beta of 2.26. The firm has a 50-day moving average of $46.28 and a 200-day moving average of $40.84.
In other Paylocity Holding Corporation news, insider Mark S. Kinsey sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $44.52, for a total value of $44,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 172,699 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $44.37, for a total transaction of $7,662,654.63. Following the completion of the transaction, the director now owns 16,337,902 shares of the company’s stock, valued at $724,912,711.74. The disclosure for this sale can be found here. Insiders have sold 355,021 shares of company stock valued at $15,942,057 over the last 90 days. 53.10% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Geneva Advisors LLC purchased a new position in Paylocity Holding Corporation during the second quarter worth $1,151,000. Cadence Capital Management LLC purchased a new position in Paylocity Holding Corporation during the second quarter worth $370,000. Turner Investments LLC purchased a new position in Paylocity Holding Corporation during the second quarter worth $158,000. Blair William & Co. IL raised its position in Paylocity Holding Corporation by 70.1% in the second quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock worth $24,643,000 after buying an additional 224,771 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Paylocity Holding Corporation by 562.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock worth $149,000 after buying an additional 2,796 shares during the last quarter. Institutional investors and hedge funds own 63.54% of the company’s stock.
Paylocity Holding Corporation Company Profile
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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