Will Paylocity beat earnings estimates this quarter?

Paylocity Stock

Paylocity (PCTY:NSD), is expected to report its earnings results on May 4th after the market closes. Analysts anticipate earnings of $1.50 per Paylocity stock share for the quarter, while Paylocity’s guidance for FY 2023 is set at EPS and Q3 2023 guidance at EPS.

The company’s last reported quarterly earnings data on February 2nd revealed earnings per share of $0.34, beating consensus estimates of $0.24.

The company’s revenue for the quarter was $273.01 million, compared to analyst estimates of $259.78 million.

 

Paylocity Stock Analysis:

Paylocity stock opened at $184.21 on Thursday, with a market capitalization of $10.27 billion, a PE ratio of 107.73, and a beta of 1.08. According to data from Stock Target Advisor, the company presently has a consensus rating of “Strong Buy” and an average price target of $280.00.

PCTY Ratings by Stock Target Advisor

Stock Holdings & Insider Transactions:

Paylocity’s insiders sold 177,242 shares of company stock valued at $36,661,532 in the last three months, with corporate insiders owning 26.50% of the company’s stock. Several hedge funds and institutional investors have also made recent changes to their positions in PCTY.

 

Company Profile:

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for the workforce in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automates processes, and manages compliance requirements within one system; and expense management, on-demand payment, and garnishment solutions.

The company serves for-profit and non-profit organizations across industries, including business services, financial services, healthcare, manufacturing, restaurants, retail, technology, and others. It sells its products through sales representatives. The company was founded in 1997 and is headquartered in Schaumburg, Illinois.

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