Paylocity Holding Corporation (NASDAQ:PCTY) released its earnings results on Thursday. The software maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.17, Bloomberg Earnings reports. Paylocity Holding Corporation had a return on equity of 8.11% and a net margin of 3.11%. The firm had revenue of $81.50 million during the quarter, compared to analysts’ expectations of $80.88 million. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Paylocity Holding Corporation updated its Q2 guidance to $0.11-0.13 EPS and its FY18 guidance to $0.84-0.85 EPS.

Shares of Paylocity Holding Corporation (NASDAQ PCTY) traded down $2.17 on Friday, hitting $50.31. The stock had a trading volume of 702,037 shares, compared to its average volume of 228,371. The company has a market cap of $2.70 billion, a P/E ratio of 234.50 and a beta of 2.24.

Several equities research analysts have weighed in on PCTY shares. Bank of America Corporation upped their target price on Paylocity Holding Corporation from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Zacks Investment Research upgraded Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, July 18th. Raymond James Financial, Inc. set a $55.00 target price on Paylocity Holding Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and set a $55.00 target price (up from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Finally, Northland Securities restated a “buy” rating and set a $55.00 target price on shares of Paylocity Holding Corporation in a research note on Sunday, September 10th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $52.43.

COPYRIGHT VIOLATION NOTICE: “Paylocity Holding Corporation (PCTY) Issues Quarterly Earnings Results” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/03/paylocity-holding-corporation-pcty-issues-quarterly-earnings-results.html.

In other news, Director Steven I. Sarowitz sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $44.81, for a total transaction of $8,962,000.00. Following the transaction, the director now directly owns 16,212,317 shares in the company, valued at $726,473,924.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven R. Beauchamp sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $46.38, for a total transaction of $2,319,000.00. Following the transaction, the insider now owns 2,218,486 shares in the company, valued at $102,893,380.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,563,715 shares of company stock worth $70,723,858. Insiders own 48.80% of the company’s stock.

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 for Paylocity Holding Corporation (NASDAQ:PCTY)

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.