Paylocity (PCTY) Projected to Post Earnings on Thursday

Paylocity (NASDAQ:PCTY) is projected to post its quarterly earnings results after the market closes on Thursday, February 6th. Analysts expect Paylocity to post earnings of $1.42 per share and revenue of $366.76 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Paylocity Trading Down 3.0 %

NASDAQ:PCTY opened at $203.45 on Thursday. The stock has a market capitalization of $11.34 billion, a PE ratio of 52.03, a price-to-earnings-growth ratio of 4.84 and a beta of 0.93. Paylocity has a 12 month low of $129.94 and a 12 month high of $215.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $201.39 and its 200 day moving average is $178.43.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Paylocity in a research report on Wednesday, January 15th. Barclays raised their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Mizuho upped their price objective on Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Truist Financial boosted their price target on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average price target of $210.64.

Insider Activity

In other Paylocity news, SVP Andrew Cappotelli sold 247 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now directly owns 14,634 shares in the company, valued at $2,828,605.86. This represents a 1.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, the director now owns 11,755 shares in the company, valued at approximately $2,310,445.25. This represents a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 157,486 shares of company stock worth $31,751,368 over the last quarter. Insiders own 21.91% of the company’s stock.

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.