Paylocity Holding Corporation (PCTY) Releases FY18 Earnings Guidance
Paylocity Holding Corporation (NASDAQ:PCTY) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.84-0.85 for the period, compared to the Thomson Reuters consensus estimate of $0.81. The company issued revenue guidance of $368.5-370.5, compared to the consensus revenue estimate of $369.91 million.Paylocity Holding Corporation also updated its Q2 guidance to $0.11-0.13 EPS.
Paylocity Holding Corporation (NASDAQ:PCTY) last posted its earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. The company had revenue of $81.50 million during the quarter, compared to analysts’ expectations of $80.88 million. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.13%. Paylocity Holding Corporation’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share.
A number of brokerages have commented on PCTY. JMP Securities reissued an outperform rating and issued a $54.00 price objective on shares of Paylocity Holding Corporation in a research note on Tuesday, July 18th. Zacks Investment Research raised shares of Paylocity Holding Corporation from a hold rating to a buy rating and set a $53.00 price objective for the company in a research note on Tuesday, July 18th. BidaskClub cut shares of Paylocity Holding Corporation from a buy rating to a hold rating in a research note on Monday, July 31st. Raymond James Financial, Inc. set a $55.00 price objective on shares of Paylocity Holding Corporation and gave the stock a buy rating in a research note on Wednesday, August 9th. Finally, Mizuho reissued a hold rating and issued a $45.00 price objective on shares of Paylocity Holding Corporation in a research note on Thursday, August 10th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $52.15.
In related news, CEO Steven R. Beauchamp sold 5,470 shares of Paylocity Holding Corporation stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $50.09, for a total transaction of $273,992.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven R. Beauchamp sold 23,530 shares of Paylocity Holding Corporation stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $50.25, for a total transaction of $1,182,382.50. Following the transaction, the chief executive officer now directly owns 2,253,978 shares of the company’s stock, valued at $113,262,394.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,563,715 shares of company stock valued at $70,723,858. 48.80% of the stock is owned by corporate insiders.
ILLEGAL ACTIVITY NOTICE: “Paylocity Holding Corporation (PCTY) Releases FY18 Earnings Guidance” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/11/02/paylocity-holding-corporation-pcty-releases-fy18-earnings-guidance.html.
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.
Receive News & Ratings for Paylocity Holding Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity Holding Corporation and related companies with MarketBeat.com's FREE daily email newsletter.