Paylocity (PCTY) Expected to Announce Quarterly Earnings on Thursday

Paylocity (NASDAQ:PCTY) is set to announce its quarterly earnings after the market closes on Thursday, February 6th. Investors and market watchers are eager to see the results, with analysts predicting the company will report earnings of $1.42 per share and revenues of $366.76 million for the quarter. Interested parties can join the company’s earnings conference call through a provided link.

Paylocity Stock Performance

On the day of the announcement, PCTY stock opened at $203.45. Observers note that the stock has seen fluctuations, having a fifty-day moving average of $201.39 and a two-hundred-day moving average of $178.43. In the past year, Paylocity stock recorded a low of $129.94 and a high of $215.68. The company holds a market capitalization of $11.34 billion, with a price-to-earnings (P/E) ratio of 52.03, and its P/E/G ratio is 4.84. Additionally, Paylocity has a debt-to-equity ratio of 0.29, and both its quick and current ratios stand at 1.32.

Analyst Ratings and Price Targets

In recent analyses, several equities analysts have shared their insights on PCTY shares. Barclays raised their price target for Paylocity from $174.00 to $180.00, maintaining an “equal weight” rating. Likewise, KeyCorp increased their price objective from $187.00 to $210.00 and assigned an “overweight” rating. StockNews.com upgraded Paylocity shares from a “hold” rating to a “buy” rating, while Jefferies Financial Group increased their price target from $215.00 to $240.00, with a “buy” recommendation. Citigroup also upgraded Paylocity from a “neutral” rating to a “buy”, lifting the price target from $214.00 to $231.00. Among analysts, two have rated the stock as a hold, while thirteen have assigned a buy rating, leading to a consensus rating of “Moderate Buy” with an average price target of $210.64, according to MarketBeat.

Insider Trading Activity

Recent insider trading at Paylocity shows activity from its directors. Director Steven I. Sarowitz sold 2,600 shares of Paylocity on December 30th, achieving an average sale price of $200.14 per share, totaling $520,364.00. After this sale, he still retains 8,332,347 shares valued at approximately $1.67 billion. Additionally, Director Jeffrey T. Diehl sold 4,513 shares on November 25th, at an average price of $209.91, totaling $947,323.83. Post-sale, Diehl holds 1,003 shares valued around $210,539.73. Overall, insiders sold 157,486 shares in the last quarter, amounting to $31,751,368, indicating that 21.91% of the stock is held by company insiders.

About Paylocity

Paylocity Holding Corporation operates in the cloud-based human capital management and payroll software solutions sector in the United States. The company provides a comprehensive range of payroll solutions, including global payroll, expense management, tax services, on-demand payments, and garnishment management. Additionally, it offers robust time and labor management software for tracking attendance, scheduling, and time collection.

Paylocity, earnings, stocks