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Paylocity: Fiscal 1Q Earnings Snapshot

October 30, 2019 GMT

SCHAUMBURG, Ill. (AP) _ Paylocity Holding Corp. (PCTY) on Wednesday reported fiscal first-quarter net income of $13.9 million.

The Schaumburg, Illinois-based company said it had profit of 25 cents per share. Earnings, adjusted for one-time gains and costs, came to 36 cents per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The provider of cloud-based payroll and human-resources software services posted revenue of $126.7 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $124.1 million.

For the current quarter ending in January, Paylocity said it expects revenue in the range of $129.5 million to $130.5 million.

The company expects full-year revenue in the range of $567 million to $569 million.

Paylocity shares have increased 72% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $103.76, a climb of 63% 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