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Paylocity tops Street 2Q forecasts

ARLINGTON HEIGTHS, Ill. (AP) _ Paylocity Holding Corp. (PCTY) on Thursday reported fiscal second-quarter net income of $431,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the Arlington Heigths, Illinois-based company said it had net income of 1 cent. Earnings, adjusted for stock option expense and amortization costs, came to 16 cents per share.

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

The provider of cloud-based payroll and human-resources software services posted revenue of $86 million in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $84.9 million.

For the current quarter ending in April, Paylocity expects its per-share earnings to range from 45 cents to 47 cents.

The company said it expects revenue in the range of $110 million to $111 million for the fiscal third quarter.

Paylocity expects full-year earnings in the range of 87 cents to 89 cents per share, with revenue ranging from $369 million to $371 million.

Paylocity shares have dropped almost 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $45.93, a climb of 37 percent in the last 12 months.


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