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Paylocity tops Street 1Q forecasts

ARLINGTON HEIGTHS, Ill. (AP) _ Paylocity Holding Corp. (PCTY) on Thursday reported fiscal first-quarter net income of $543,000, after reporting a loss in the same period a year earlier.

The Arlington Heigths, Illinois-based company said it had net income of 1 cent per share. Earnings, adjusted for stock option expense and amortization costs, were 15 cents per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The provider of cloud-based payroll and human-resources software services posted revenue of $81.5 million in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $80.8 million.

For the current quarter ending in January, Paylocity expects its per-share earnings to range from 11 cents to 13 cents.

The company said it expects revenue in the range of $84.3 million to $85.3 million for the fiscal second quarter.

Paylocity expects full-year earnings in the range of 84 cents to 85 cents per share, with revenue ranging from $368.5 million to $370.5 million.

Paylocity shares have climbed 72 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $51.59, a rise of 26 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCTY at https://www.zacks.com/ap/PCTY