Paylocity (NASDAQ:PCTY) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Paylocity (NASDAQ:PCTY) released its quarterly earnings data on Thursday. The software maker reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.19, Briefing.com reports. Paylocity had a return on equity of 22.40% and a net margin of 14.74%. The business had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. During the same quarter in the previous year, the business posted $0.76 EPS. Paylocity’s revenue for the quarter was up 15.8% on a year-over-year basis. Paylocity updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

Paylocity Stock Up 6.7 %

Shares of PCTY stock traded up $9.86 during trading on Friday, reaching $158.09. 1,074,054 shares of the company’s stock were exchanged, compared to its average volume of 489,055. The stock has a market capitalization of $8.92 billion, a PE ratio of 45.96, a PEG ratio of 2.59 and a beta of 0.92. Paylocity has a twelve month low of $129.94 and a twelve month high of $217.13. The firm’s fifty day moving average price is $140.64 and its 200-day moving average price is $156.87.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. TD Cowen cut their price objective on Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Truist Financial cut their price objective on Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Wednesday. KeyCorp cut their target price on Paylocity from $200.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Finally, Stifel Nicolaus cut their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $185.41.

Insider Buying and Selling

In related news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the sale, the chief financial officer now directly owns 31,074 shares in the company, valued at approximately $4,352,224.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,173 shares of company stock valued at $7,296,388. 22.50% of the stock is owned by insiders.

Paylocity Company Profile

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.