Brokerages Expect Paylocity Holding Corp (PCTY) Will Post Quarterly Sales of $84.94 Million

Analysts expect that Paylocity Holding Corp (NASDAQ:PCTY) will post $84.94 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Paylocity’s earnings, with the lowest sales estimate coming in at $84.77 million and the highest estimate coming in at $85.20 million. Paylocity reported sales of $68.65 million during the same quarter last year, which suggests a positive year-over-year growth rate of 23.7%. The company is scheduled to report its next quarterly earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Paylocity will report full-year sales of $84.94 million for the current year, with estimates ranging from $369.00 million to $370.58 million. For the next year, analysts expect that the company will report sales of $451.06 million per share, with estimates ranging from $448.12 million to $457.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Paylocity.

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

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Paylocity from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and set a $47.00 price target on shares of Paylocity in a research note on Friday, November 3rd. Robert W. Baird raised their price target on shares of Paylocity from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Mizuho restated a “hold” rating and set a $45.00 price target on shares of Paylocity in a research note on Thursday, October 12th. Finally, TheStreet upgraded shares of Paylocity from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Paylocity currently has a consensus rating of “Hold” and an average target price of $52.92.

In related news, SVP Edward W. Gaty sold 5,062 shares of Paylocity 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 transaction, the senior vice president now directly owns 116,135 shares in the company, valued at approximately $5,321,305.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael R. Haske sold 25,000 shares of Paylocity stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $47.02, for a total transaction of $1,175,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,409,588 shares of company stock valued at $65,215,780 over the last quarter. 48.80% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its holdings in Paylocity by 22.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock valued at $103,000 after purchasing an additional 421 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Paylocity by 562.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock valued at $149,000 after purchasing an additional 2,796 shares during the period. GSA Capital Partners LLP bought a new position in Paylocity in the 3rd quarter valued at $211,000. Nomura Holdings Inc. bought a new position in Paylocity in the 2nd quarter valued at $208,000. Finally, Jane Street Group LLC bought a new position in Paylocity in the 3rd quarter valued at $260,000. 59.78% of the stock is owned by hedge funds and other institutional investors.

Shares of Paylocity (PCTY) traded up $0.33 during mid-day trading on Thursday, hitting $49.99. 163,819 shares of the stock traded hands, compared to its average volume of 156,741. Paylocity has a 12 month low of $29.69 and a 12 month high of $53.96. The stock has a market cap of $2,625.32, a price-to-earnings ratio of 277.72, a P/E/G ratio of 6.56 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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