Paylocity (PCTY) to Release Quarterly 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 $366.87 million for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Paylocity Trading Up 0.4 %

NASDAQ:PCTY opened at $206.38 on Tuesday. Paylocity has a one year low of $129.94 and a one year high of $215.68. The business’s 50-day simple moving average is $201.39 and its 200 day simple moving average is $179.40. 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 stock has a market cap of $11.51 billion, a price-to-earnings ratio of 52.78, a price-to-earnings-growth ratio of 5.03 and a beta of 0.95.

Insider Buying and Selling

In other Paylocity news, Director Steven I. Sarowitz sold 12,226 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $196.29, for a total value of $2,399,841.54. Following the sale, the director now owns 9,300,847 shares in the company, valued at $1,825,663,257.63. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction on Tuesday, November 19th. The shares were 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 in the company, valued at approximately $2,828,605.86. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,880 shares of company stock worth $25,932,309. 21.91% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent research reports. Piper Sandler upped their target price on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $200.00 to $235.00 in a report on Friday. KeyCorp increased their price objective on shares of Paylocity from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial raised their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets increased their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.86.

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.