Paylocity Holding Corp (PCTY) Expected to Announce Quarterly Sales of $117.54 Million

Wall Street analysts expect Paylocity Holding Corp (NASDAQ:PCTY) to report sales of $117.54 million for the current quarter, Zacks reports. Nine analysts have provided estimates for Paylocity’s earnings, with the lowest sales estimate coming in at $117.20 million and the highest estimate coming in at $118.20 million. Paylocity reported sales of $96.62 million in the same quarter last year, which indicates a positive year over year growth rate of 21.7%. The company is expected to report its next quarterly earnings report on Thursday, August 8th.

On average, analysts expect that Paylocity will report full-year sales of $464.80 million for the current year, with estimates ranging from $464.46 million to $465.50 million. For the next financial year, analysts expect that the business will post sales of $562.15 million, with estimates ranging from $556.40 million to $567.99 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 issued its quarterly earnings data on Thursday, May 2nd. The software maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.19. Paylocity had a net margin of 9.52% and a return on equity of 15.29%. The business had revenue of $139.60 million for the quarter, compared to analysts’ expectations of $135.97 million. During the same period in the previous year, the business earned $0.71 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis.

Several brokerages have commented on PCTY. Zacks Investment Research upgraded shares of Paylocity from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Monday, April 8th. ValuEngine upgraded shares of Paylocity from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Craig Hallum reiterated a “hold” rating and issued a $97.00 price target (up from $78.00) on shares of Paylocity in a research report on Friday, May 3rd. BidaskClub upgraded shares of Paylocity from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 25th. Finally, Bank of America boosted their price target on shares of Paylocity from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Thursday, February 7th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $90.50.

In related news, Director Jeffrey T. Diehl sold 58,700 shares of Paylocity stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $89.56, for a total value of $5,257,172.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Edward W. Gaty sold 11,281 shares of Paylocity stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $87.00, for a total value of $981,447.00. The disclosure for this sale can be found here. Insiders sold a total of 847,405 shares of company stock worth $75,586,534 in the last three months. 41.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PCTY. FTB Advisors Inc. increased its stake in Paylocity by 25.1% in the 4th quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after purchasing an additional 129 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in Paylocity by 34.8% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock valued at $47,000 after acquiring an additional 200 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Paylocity during the 1st quarter valued at about $61,000. Hilton Capital Management LLC purchased a new position in Paylocity during the 1st quarter valued at about $63,000. Finally, First Quadrant L P CA grew its stake in Paylocity by 460.3% during the 4th quarter. First Quadrant L P CA now owns 1,496 shares of the software maker’s stock valued at $90,000 after acquiring an additional 1,229 shares in the last quarter. 63.92% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity stock traded down $2.42 during midday trading on Thursday, hitting $99.58. The company’s stock had a trading volume of 188,700 shares, compared to its average volume of 288,073. Paylocity has a 12 month low of $53.46 and a 12 month high of $103.71. The stock has a market cap of $5.40 billion, a PE ratio of 321.23, a price-to-earnings-growth ratio of 8.94 and a beta of 2.07.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

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Earnings History and Estimates for Paylocity (NASDAQ:PCTY)

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