Paylocity (PCTY) to Release Quarterly Earnings on Thursday

Paylocity (NASDAQ:PCTY) is expected to announce its earnings results after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $1.42 per share and revenue of $366.87 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $206.38 on Tuesday. The firm has a market capitalization of $11.51 billion, a P/E ratio of 52.78, a P/E/G ratio of 5.03 and a beta of 0.95. The firm’s 50-day moving average price is $201.39 and its 200-day moving average price is $179.40. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity has a 1-year low of $129.94 and a 1-year high of $215.68.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the sale, the senior vice president now directly owns 14,634 shares in the company, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 15,444 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the transaction, the director now owns 9,272,906 shares in the company, valued at approximately $1,812,204,019.58. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,880 shares of company stock valued at $25,932,309 in the last ninety days. 21.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of analyst reports. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and lifted their price target for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. TD Cowen cut their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets raised their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Barclays upped their target price on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler raised their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.86.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.