Paylocity Holding Corp (PCTY) Expected to Post Quarterly Sales of $84.94 Million

Equities research analysts predict that Paylocity Holding Corp (NASDAQ:PCTY) will report $84.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Paylocity’s earnings, with the highest sales estimate coming in at $85.20 million and the lowest estimate coming in at $84.77 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 announce its next earnings results after the market closes on Thursday, February 8th.

On average, analysts expect that Paylocity will report full-year sales of $84.94 million for the current fiscal year, with estimates ranging from $369.00 million to $370.58 million. For the next fiscal year, analysts anticipate that the business will post sales of $451.06 million per share, with estimates ranging from $448.12 million to $457.50 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Paylocity.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The business had revenue of $81.50 million for the quarter, compared to analyst estimates of $80.88 million. Paylocity had a net margin of 3.11% and a return on equity of 7.98%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS.

Several research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Paylocity from a “sell” rating to a “hold” rating in a report on Wednesday. SunTrust Banks reiterated a “hold” rating and set a $47.00 price objective on shares of Paylocity in a report on Friday, November 3rd. Zacks Investment Research lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Mizuho reiterated a “hold” rating and set a $45.00 price objective on shares of Paylocity in a report on Thursday, October 12th. Finally, TheStreet upgraded shares of Paylocity from a “c” rating to a “b-” rating in a report on Friday, November 3rd. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Paylocity has a consensus rating of “Buy” and an average price target of $52.92.

In other Paylocity news, SVP Edward W. Gaty sold 5,062 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $45.82, for a total value of $231,940.84. Following the completion of the sale, the senior vice president now owns 116,135 shares of the company’s stock, valued at $5,321,305.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven R. Beauchamp sold 19,958 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.09, for a total transaction of $999,696.22. Following the completion of the sale, the chief executive officer now directly owns 2,168,270 shares of the company’s stock, valued at approximately $108,608,644.30. The disclosure for this sale can be found here. Insiders sold 1,444,846 shares of company stock worth $66,981,241 in the last 90 days. 48.80% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of PCTY. Janus Henderson Group PLC acquired a new stake in Paylocity in the second quarter valued at approximately $29,148,000. Alyeska Investment Group L.P. grew its position in Paylocity by 56.3% in the third quarter. Alyeska Investment Group L.P. now owns 625,000 shares of the software maker’s stock valued at $30,513,000 after acquiring an additional 225,000 shares in the last quarter. Wasatch Advisors Inc. grew its position in Paylocity by 24.4% in the fourth quarter. Wasatch Advisors Inc. now owns 1,071,943 shares of the software maker’s stock valued at $50,553,000 after acquiring an additional 210,556 shares in the last quarter. FMR LLC grew its position in Paylocity by 5.2% in the second quarter. FMR LLC now owns 1,963,017 shares of the software maker’s stock valued at $88,689,000 after acquiring an additional 97,368 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Paylocity by 76.2% in the second quarter. Goldman Sachs Group Inc. now owns 199,508 shares of the software maker’s stock valued at $9,014,000 after acquiring an additional 86,262 shares in the last quarter. 60.36% of the stock is owned by institutional investors.

Paylocity (PCTY) opened at $50.60 on Friday. The firm has a market cap of $2,702.52, a PE ratio of 281.11, a PEG ratio of 6.75 and a beta of 2.09. Paylocity has a 1-year low of $33.39 and a 1-year high of $53.96.

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Paylocity 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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