Paylocity (PCTY) Projected to Post Quarterly Earnings on Thursday

Paylocity (NASDAQ:PCTY - Get Free Report) 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 $366.76 million for the quarter. Individual that wish to listen to the company's earnings conference call can do so using this link.

Paylocity Stock Performance

PCTY stock traded down $3.12 during mid-day trading on Thursday, hitting $200.33. 343,487 shares of the company were exchanged, compared to its average volume of 480,594. Paylocity has a 1-year low of $129.94 and a 1-year high of $215.68. The business has a 50 day simple moving average of $201.39 and a 200-day simple moving average of $178.43. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $11.17 billion, a PE ratio of 51.54, a price-to-earnings-growth ratio of 4.84 and a beta of 0.93.

Insider Activity

In other news, CAO Nicholas Rost sold 212 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the transaction, the chief accounting officer now directly owns 7,364 shares of the company's stock, valued at $1,423,387.56. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew Cappotelli sold 247 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 14,634 shares in the company, valued at approximately $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 quarter, insiders sold 157,486 shares of company stock valued at $31,751,368. Company insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Jefferies Financial Group lifted their price target on shares of Paylocity from $215.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, December 9th. BMO Capital Markets increased their target price on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Truist Financial raised 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. Finally, KeyCorp upped their price objective on Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $210.64.

About Paylocity

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.