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.

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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.

Earnings History and Estimates for Paylocity Holding Corporation (NASDAQ:PCTY)

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