Paylocity (PCTY) to Release Earnings on Thursday

Paylocity (NASDAQ:PCTY) is expected to issue its quarterly earnings data 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 interested in registering for the company’s earnings conference call can do so using this link.

Paylocity Stock Up 2.2 %

PCTY stock opened at $210.82 on Wednesday. The firm has a market cap of $11.75 billion, a PE ratio of 53.92, a PEG ratio of 5.03 and a beta of 0.95. Paylocity has a one year low of $129.94 and a one year high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm’s 50 day moving average price is $201.29 and its 200-day moving average price is $180.34.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCTY. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Jefferies Financial Group lifted their price target on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler raised their target price on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Truist Financial boosted their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.86.

Insider Transactions at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 946 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $204.74, for a total transaction of $193,684.04. Following the transaction, the director now owns 1,767 shares of the company’s stock, valued at approximately $361,775.58. This trade represents a 34.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew Cappotelli sold 247 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 owns 14,634 shares of the company’s stock, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,380 shares of company stock valued at $25,830,669. 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.