Stock Monitor: Materialise Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 15, 2018 / Active-Investors.com has just released a free earnings report on Paylocity Holding Corp. (NASDAQ: PCTY) ("Paylocity"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PCTY. The Company reported its second quarter fiscal 2018 operating and financial results on February 08, 2018. The provider of cloud-based payroll and human-resources software services outperformed top- and bottom-line expectations and also provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Paylocity Holding most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the second quarter of the fiscal year 2018 ended December 31, 2017, Paylocity's total revenues surged 25% to $86.0 million compared to $68.7 million in Q2 FY17. The Company's revenue numbers topped analysts' estimates of $84.9 million.
During Q2 FY18, Paylocity's total recurring revenues advanced 26% to $83.1 million, and represented 97% of the Company's total revenues, compared to $66.1 million in Q2 FY17, driven by new client additions, an improved HCM product penetration, and an increase in interest income on funds held for clients.
In Q2 FY18, Paylocity's adjusted recurring gross profit on recurring revenues was $61.5 million, or 74%, up from $47.9 million, or 72.5%, in Q2 FY17, reflecting a 150-basis point improvement. The Company's adjusted gross profit was $53.6 million in the reported quarter, representing a gross profit margin of 62.3%, compared to $41.2 million, or 60%, in the year-ago same quarter.
For Q2 FY18, Paylocity's GAAP operating income was $133,000 compared to an operating loss of $1.6 million in Q2 FY17. The Company's non-GAAP operating income was $8.7 million in the reported quarter versus $5.4 million in the prior year's comparable quarter.
Paylocity reported a GAAP net income of $431,000, or $0.01 per diluted share, in Q2 FY18 compared to a GAAP net loss of $1.7 million, or $0.03 per diluted share, in Q2 FY17. The Company's non-GAAP net income was $9.0 million, or $0.16 per diluted share, in the reported quarter, based on 54.8 million diluted weighted average common shares outstanding; compared to a non-GAAP net income of $5.4 million, or $0.10 per diluted share, in the year-ago corresponding period, based on 53.9 million Pro-forma diluted weighted average common shares outstanding. Paylocity's earnings numbers beat Wall Street's estimates of $0.12 per share.
For Q4 2017, Paylocity's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $15.2 million compared to $9.9 million in Q2 FY17.
As of December 31, 2017, Paylocity's cash and cash equivalents totaled $111.0 million. The Company's cash flow from operations was $26.0 million in Q2 FY18 compared to $13.5 million in Q2 FY17.
For the third quarter of the fiscal year 2018, Paylocity is forecasting total revenues to be in the range of $110.0 million to $111.0 million. The Company is expecting adjusted EBITDA to be in the band of $32.3 million to $33.3 million, and non-GAAP net income to be in the range of $25.0 million to $26.0 million, or $0.45 to $0.47 per share.
For the full fiscal year 2018, Paylocity is projecting total revenues to be in the range of $369.0 million to $371.0 million. The Company is anticipating adjusted EBITDA to be in the band of $76.0 million to $77.0 million, and non-GAAP net income to be in the range of $48.0 million to $49.0 million, or $0.87 to $0.89 per share.
Stock Performance Snapshot
March 14, 2018 - At Wednesday's closing bell, Paylocity Holding's stock climbed 1.45%, ending the trading session at $55.22.
Volume traded for the day: 288.98 thousand shares, which was above the 3-month average volume of 272.08 thousand shares.
Stock performance in the last month – up 24.79%; previous three-month period – up 18.35%; past twelve-month period – up 51.74%; and year-to-date – up 17.09%
After yesterday's close, Paylocity Holding's market cap was at $2.89 billion.
Price to Earnings (P/E) ratio was at 254.47.
The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.2% at the end of the session.
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