Paylocity Holding Corporation (PCTY) Expected to Announce Quarterly Sales of $80.80 Million
Wall Street brokerages expect Paylocity Holding Corporation (NASDAQ:PCTY) to announce $80.80 million in sales for the current quarter, according to Zacks. Nine analysts have issued estimates for Paylocity Holding Corporation’s earnings, with the lowest sales estimate coming in at $80.70 million and the highest estimate coming in at $80.93 million. Paylocity Holding Corporation reported sales of $65.02 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.3%. The business is expected to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Paylocity Holding Corporation will report full-year sales of $80.80 million for the current fiscal year, with estimates ranging from $369.00 million to $369.96 million. For the next fiscal year, analysts forecast 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 sell-side research firms that that provide coverage for Paylocity Holding Corporation.
Paylocity Holding Corporation (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The company had revenue of $76.10 million for the quarter, compared to the consensus estimate of $73.79 million. During the same period in the previous year, the business earned ($0.01) EPS. Paylocity Holding Corporation’s revenue for the quarter was up 27.3% compared to the same quarter last year.
PCTY has been the subject of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price target (up from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. ValuEngine upgraded Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Tuesday, July 18th. Pacific Crest reiterated a “hold” rating on shares of Paylocity Holding Corporation in a research note on Thursday, May 4th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of Paylocity Holding Corporation in a research note on Friday, May 12th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $51.17.
Paylocity Holding Corporation (NASDAQ PCTY) traded up 0.62% during midday trading on Friday, reaching $46.93. The company’s stock had a trading volume of 172,031 shares. The firm has a market capitalization of $2.43 billion, a PE ratio of 391.08 and a beta of 2.26. Paylocity Holding Corporation has a 52 week low of $29.69 and a 52 week high of $49.65. The stock has a 50 day moving average of $45.92 and a 200 day moving average of $42.26.
In other Paylocity Holding Corporation news, Director Steven I. Sarowitz sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $44.81, for a total transaction of $8,962,000.00. Following the completion of the transaction, the director now directly owns 16,212,317 shares in the company, valued at $726,473,924.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Peter J. Mcgrail sold 49,764 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $47.27, for a total transaction of $2,352,344.28. Following the transaction, the chief financial officer now owns 227,475 shares of the company’s stock, valued at $10,752,743.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,554,764 shares of company stock valued at $70,133,790. Company insiders own 53.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. USA Financial Portformulas Corp purchased a new position in shares of Paylocity Holding Corporation during the second quarter valued at approximately $471,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Paylocity Holding Corporation during the second quarter valued at approximately $419,000. Wasatch Advisors Inc. increased its position in shares of Paylocity Holding Corporation by 8.0% in the second quarter. Wasatch Advisors Inc. now owns 863,765 shares of the software maker’s stock valued at $39,025,000 after buying an additional 64,268 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Paylocity Holding Corporation by 29.0% in the second quarter. Public Employees Retirement System of Ohio now owns 37,350 shares of the software maker’s stock valued at $1,687,000 after buying an additional 8,391 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Paylocity Holding Corporation by 22.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock valued at $103,000 after buying an additional 421 shares in the last quarter. Institutional investors and hedge funds own 60.85% of the company’s stock.
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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