Brokerages expect Paylocity Holding Corp (NASDAQ:PCTY) to post sales of $84.94 million for the current quarter, according to Zacks. Ten analysts have issued estimates for Paylocity’s earnings. The lowest sales estimate is $84.77 million and the highest is $85.20 million. Paylocity posted sales of $68.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.7%. The company is scheduled to issue its next earnings report on Thursday, February 1st.

According to Zacks, analysts expect that Paylocity will report full-year sales of $84.94 million for the current financial year, with estimates ranging from $369.00 million to $370.58 million. For the next fiscal year, analysts expect that the firm will post sales of $451.06 million per share, with estimates ranging from $448.12 million to $457.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Paylocity.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, November 2nd. The software maker reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.17. Paylocity had a return on equity of 7.98% and a net margin of 3.11%. The company had revenue of $81.50 million during the quarter, compared to the consensus estimate of $80.88 million. During the same period in the previous year, the firm posted $0.07 earnings per share. Paylocity’s quarterly revenue was up 25.4% compared to the same quarter last year.

A number of brokerages have commented on PCTY. Zacks Investment Research downgraded Paylocity from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. BidaskClub downgraded Paylocity from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. SunTrust Banks restated a “hold” rating and issued a $47.00 target price on shares of Paylocity in a research note on Friday, November 3rd. Mizuho reaffirmed a “hold” rating and set a $45.00 price target on shares of Paylocity in a report on Thursday, October 12th. Finally, Robert W. Baird lifted their price target on Paylocity from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.92.

In related news, insider Michael R. Haske sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $47.02, for a total transaction of $1,175,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Edward W. Gaty sold 5,062 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $45.82, for a total value of $231,940.84. Following the sale, the senior vice president now directly owns 116,135 shares in the company, valued at approximately $5,321,305.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,376,204 shares of company stock worth $63,542,933. 48.80% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in PCTY. Ameritas Investment Partners Inc. raised its holdings in Paylocity by 22.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after purchasing an additional 421 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Paylocity by 562.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock worth $149,000 after purchasing an additional 2,796 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Paylocity during the second quarter worth approximately $208,000. GSA Capital Partners LLP bought a new stake in Paylocity during the third quarter worth approximately $211,000. Finally, Jane Street Group LLC bought a new stake in Paylocity during the third quarter worth approximately $260,000. 59.78% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity (PCTY) opened at $49.46 on Thursday. Paylocity has a 52 week low of $29.69 and a 52 week high of $53.96. The company has a market capitalization of $2,600.00, a P/E ratio of 274.78, a price-to-earnings-growth ratio of 6.51 and a beta of 2.11.

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About Paylocity

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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