Wall Street brokerages expect Paylocity Holding Corporation (NASDAQ:PCTY) to announce $73.76 million in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Paylocity Holding Corporation’s earnings. The lowest sales estimate is $73.50 million and the highest is $73.98 million. Paylocity Holding Corporation posted sales of $59.84 million in the same quarter last year, which suggests a positive year over year growth rate of 23.3%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, August 10th.

According to Zacks, analysts expect that Paylocity Holding Corporation will report full-year sales of $73.76 million for the current fiscal year, with estimates ranging from $297.45 million to $297.93 million. For the next year, analysts forecast that the firm will report sales of $369.46 million per share, with estimates ranging from $366.70 million to $371.60 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Paylocity Holding Corporation.

A number of equities analysts have issued reports on the company. ValuEngine raised Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. SunTrust Banks, Inc. assumed coverage on Paylocity Holding Corporation in a report on Monday, June 26th. They issued a “hold” rating and a $45.00 target price for the company. Zacks Investment Research cut Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. JMP Securities reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Paylocity Holding Corporation in a report on Tuesday, July 18th. Finally, BidaskClub cut Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $48.82.

Shares of Paylocity Holding Corporation (NASDAQ PCTY) opened at 43.98 on Monday. The company has a 50-day moving average price of $46.50 and a 200-day moving average price of $40.77. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 439.80 and a beta of 2.26. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $49.65.

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In other news, SVP Edward W. Gaty sold 4,257 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $44.78, for a total value of $190,628.46. Following the completion of the sale, the senior vice president now owns 85,934 shares of the company’s stock, valued at $3,848,124.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark S. Kinsey sold 1,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $44.52, for a total value of $44,520.00. The disclosure for this sale can be found here. In the last three months, insiders sold 355,021 shares of company stock valued at $15,942,057. Insiders own 53.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Cadence Capital Management LLC acquired a new stake in Paylocity Holding Corporation during the second quarter valued at approximately $370,000. Turner Investments LLC acquired a new stake in Paylocity Holding Corporation during the second quarter valued at approximately $158,000. Blair William & Co. IL boosted its stake in Paylocity Holding Corporation by 70.1% in the second quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock valued at $24,643,000 after buying an additional 224,771 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Paylocity Holding Corporation by 562.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock valued at $149,000 after buying an additional 2,796 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Paylocity Holding Corporation by 13.1% in the second quarter. Legal & General Group Plc now owns 7,726 shares of the software maker’s stock valued at $349,000 after buying an additional 895 shares in the last quarter. 63.54% of the stock is owned by institutional investors and hedge funds.

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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