Paylocity Holding Corporation (NASDAQ:PCTY) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $0.78-0.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.78. The company issued revenue guidance of $368-370 million, compared to the consensus revenue estimate of $370.78 million.Paylocity Holding Corporation also updated its Q1 guidance to $0.10-0.12 EPS.
A number of analysts recently weighed in on the stock. Bank of America Corporation reaffirmed a buy rating and set a $47.00 target price (down previously from $50.00) on shares of Paylocity Holding Corporation in a report on Friday. Stifel Nicolaus reaffirmed a buy rating and set a $55.00 target price (up previously from $50.00) on shares of Paylocity Holding Corporation in a report on Friday. Deutsche Bank AG upped their target price on shares of Paylocity Holding Corporation from $55.00 to $60.00 and gave the stock a buy rating in a report on Monday, May 15th. Raymond James Financial, Inc. set a $55.00 target price on shares of Paylocity Holding Corporation and gave the stock a buy rating in a report on Wednesday. Finally, Zacks Investment Research raised shares of Paylocity Holding Corporation from a hold rating to a strong-buy rating and set a $50.00 target price on the stock in a report on Wednesday, May 10th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Paylocity Holding Corporation presently has a consensus rating of Hold and a consensus target price of $51.17.
Shares of Paylocity Holding Corporation (NASDAQ:PCTY) opened at 45.00 on Friday. The stock has a market cap of $2.32 billion, a PE ratio of 450.00 and a beta of 2.26. The stock has a 50 day moving average of $45.78 and a 200-day moving average of $41.24. Paylocity Holding Corporation has a 52 week low of $29.69 and a 52 week high of $49.65.
Paylocity Holding Corporation (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.33%. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $73.79 million. During the same quarter last year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. Equities research analysts predict that Paylocity Holding Corporation will post $0.78 earnings per share for the current fiscal year.
In related news, SVP Edward W. Gaty sold 4,257 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $44.78, for a total value of $190,628.46. Following the sale, the senior vice president now owns 85,934 shares in the company, valued at $3,848,124.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter J. Mcgrail sold 49,764 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $47.27, for a total transaction of $2,352,344.28. Following the completion of the sale, the chief financial officer now owns 227,475 shares in the company, valued at approximately $10,752,743.25. The disclosure for this sale can be found here. Insiders sold 182,322 shares of company stock worth $8,279,403 in the last 90 days. 53.10% of the stock is currently owned by company insiders.
About Paylocity Holding Corporation
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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