Wall Street analysts predict that Paylocity Holding Corporation (NASDAQ:PCTY) will report sales of $73.75 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Paylocity Holding Corporation’s earnings. The highest sales estimate is $73.98 million and the lowest is $73.50 million. Paylocity Holding Corporation reported sales of $59.84 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.2%. The firm is scheduled to issue its next earnings report on Tuesday, August 8th.

According to Zacks, analysts expect that Paylocity Holding Corporation will report full year sales of $73.75 million for the current year, with estimates ranging from $297.00 million to $298.00 million. For the next year, analysts anticipate that the company will report sales of $369.78 million per share, with estimates ranging from $366.70 million to $372.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Paylocity Holding Corporation.

Several analysts have issued reports on the stock. ValuEngine upgraded shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. SunTrust Banks, Inc. assumed coverage on shares of Paylocity Holding Corporation in a research report on Monday, June 26th. They set a “hold” rating and a $45.00 price target for the company. Needham & Company LLC upped their price target on shares of Paylocity Holding Corporation from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Royal Bank Of Canada upped their price target on shares of Paylocity Holding Corporation from $47.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Finally, Deutsche Bank AG upped their price target on shares of Paylocity Holding Corporation from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Paylocity Holding Corporation has an average rating of “Hold” and a consensus target price of $48.18.

Paylocity Holding Corporation (NASDAQ:PCTY) traded up 0.37% during midday trading on Friday, hitting $45.87. The company had a trading volume of 167,371 shares. Paylocity Holding Corporation has a 52 week low of $29.69 and a 52 week high of $49.65. The firm has a market capitalization of $2.36 billion, a P/E ratio of 458.70 and a beta of 2.28. The firm’s 50 day moving average is $46.42 and its 200-day moving average is $38.33.

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In other news, Director Steven I. Sarowitz sold 172,699 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $44.37, for a total transaction of $7,662,654.63. Following the completion of the sale, the director now directly owns 16,337,902 shares in the company, valued at $724,912,711.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Peter J. Mcgrail sold 49,764 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $47.27, for a total transaction of $2,352,344.28. Following the sale, the chief financial officer now owns 227,475 shares of the company’s stock, valued at $10,752,743.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 364,537 shares of company stock valued at $16,323,091. 53.10% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of PCTY. Tocqueville Asset Management L.P. raised its stake in Paylocity Holding Corporation by 262.3% in the first quarter. Tocqueville Asset Management L.P. now owns 72,460 shares of the software maker’s stock worth $2,799,000 after buying an additional 52,460 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Paylocity Holding Corporation by 17.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 126,875 shares of the software maker’s stock worth $4,901,000 after buying an additional 19,200 shares during the last quarter. Granite Investment Partners LLC bought a new position in Paylocity Holding Corporation during the first quarter worth about $1,506,000. Independent Portfolio Consultants Inc. increased its position in Paylocity Holding Corporation by 38.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 6,005 shares of the software maker’s stock worth $232,000 after buying an additional 1,655 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Paylocity Holding Corporation by 29.2% in the first quarter. Bank of Montreal Can now owns 3,377 shares of the software maker’s stock worth $130,000 after buying an additional 764 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.

Paylocity Holding Corporation Company Profile

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

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Earnings History and Estimates for Paylocity Holding Corporation (NASDAQ:PCTY)

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