Paylocity Holding Corporation (PCTY) Expected to Announce Quarterly Sales of $80.80 Million
Wall Street analysts expect that Paylocity Holding Corporation (NASDAQ:PCTY) will report sales of $80.80 million for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Paylocity Holding Corporation’s earnings. The highest sales estimate is $80.93 million and the lowest is $80.70 million. Paylocity Holding Corporation reported sales of $65.02 million in the same quarter last year, which indicates a positive year-over-year growth rate of 24.3%. The company is scheduled to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Paylocity Holding Corporation will report full-year sales of $80.80 million for the current year, with estimates ranging from $369.00 million to $369.96 million. For the next year, analysts anticipate that the company will post sales of $451.11 million per share, with estimates ranging from $447.00 million to $457.05 million. Zacks’ sales averages are an average based on a survey of research firms that cover Paylocity Holding Corporation.
Paylocity Holding Corporation (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. The business had revenue of $76.10 million during the quarter, compared to the consensus estimate of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share.
Several research firms recently commented on PCTY. Deutsche Bank AG boosted their price objective 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. Zacks Investment Research raised shares of Paylocity Holding Corporation from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price objective (up from $40.00) on shares of Paylocity Holding Corporation in a research report on Friday, May 5th. Royal Bank Of Canada boosted their price objective 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, Raymond James Financial, Inc. set a $55.00 price objective on shares of Paylocity Holding Corporation and gave the company a “buy” rating in a research report on Wednesday, August 9th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Paylocity Holding Corporation currently has a consensus rating of “Hold” and an average price target of $51.17.
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Shares of Paylocity Holding Corporation (NASDAQ PCTY) opened at 46.91 on Friday. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $49.65. The stock has a market cap of $2.43 billion, a P/E ratio of 390.92 and a beta of 2.26. The stock has a 50 day moving average price of $45.85 and a 200-day moving average price of $42.17.
In other news, VP Michael R. Haske sold 88,600 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $45.21, for a total transaction of $4,005,606.00. Following the transaction, the vice president now directly owns 1,189,606 shares in the company, valued at approximately $53,782,087.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael R. Haske sold 11,400 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $45.60, for a total transaction of $519,840.00. Following the transaction, the insider now owns 1,228,860 shares in the company, valued at $56,036,016. The disclosure for this sale can be found here. Insiders have sold a total of 1,554,764 shares of company stock worth $70,133,790 over the last 90 days. 53.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Paylocity Holding Corporation during the fourth quarter valued at $1,200,000. Teachers Advisors LLC raised its position in Paylocity Holding Corporation by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 35,812 shares of the software maker’s stock valued at $1,075,000 after buying an additional 1,939 shares in the last quarter. Bank of Montreal Can raised 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 valued at $130,000 after buying an additional 764 shares in the last quarter. Independent Portfolio Consultants Inc. raised 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 valued at $232,000 after buying an additional 1,655 shares in the last quarter. Finally, Granite Investment Partners LLC purchased a new position in Paylocity Holding Corporation during the first quarter valued at $1,506,000. Institutional investors own 62.97% of the company’s stock.
About Paylocity Holding Corporation
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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