Equities analysts forecast that Paylocity Holding Corp (NASDAQ:PCTY) will post sales of $98.30 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Paylocity’s earnings, with the highest sales estimate coming in at $98.56 million and the lowest estimate coming in at $98.10 million. Paylocity reported sales of $81.50 million during the same quarter last year, which indicates a positive year over year growth rate of 20.6%. The company is scheduled to report its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Paylocity will report full-year sales of $452.71 million for the current year, with estimates ranging from $452.10 million to $453.00 million. For the next year, analysts forecast that the company will post sales of $549.73 million per share, with estimates ranging from $541.80 million to $561.37 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Paylocity.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 9th. The software maker reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $96.62 million for the quarter, compared to analyst estimates of $93.33 million. Paylocity had a net margin of 10.22% and a return on equity of 12.44%. Paylocity’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share.
A number of research analysts have recently commented on PCTY shares. TheStreet raised Paylocity from a “c+” rating to a “b+” rating in a report on Wednesday, May 23rd. BidaskClub lowered Paylocity from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Royal Bank of Canada reissued a “hold” rating and set a $68.00 price target on shares of Paylocity in a report on Wednesday, August 8th. Robert W. Baird reaffirmed a “buy” rating and set a $68.00 target price on shares of Paylocity in a report on Friday, August 10th. Finally, Wells Fargo & Co lifted their target price on Paylocity from $52.00 to $58.00 and gave the stock a “market perform” rating in a report on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $65.62.
Shares of PCTY traded up $1.49 during trading hours on Friday, reaching $85.12. 349,732 shares of the company’s stock traded hands, compared to its average volume of 360,171. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 274.58, a price-to-earnings-growth ratio of 4.68 and a beta of 2.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.08 and a current ratio of 1.08. Paylocity has a twelve month low of $41.15 and a twelve month high of $85.56.
In related news, insider Michael R. Haske sold 57,500 shares of Paylocity stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $66.65, for a total value of $3,832,375.00. Following the transaction, the insider now owns 1,010,693 shares of the company’s stock, valued at approximately $67,362,688.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Edward W. Gaty sold 7,614 shares of Paylocity stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $78.90, for a total value of $600,744.60. Following the completion of the transaction, the senior vice president now directly owns 126,392 shares in the company, valued at approximately $9,972,328.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,002,124 shares of company stock worth $65,904,551. 48.80% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cutler Group LP purchased a new position in Paylocity in the 2nd quarter worth about $100,000. Summit Trail Advisors LLC increased its stake in Paylocity by 6,931.5% in the 1st quarter. Summit Trail Advisors LLC now owns 101,816 shares of the software maker’s stock worth $102,000 after purchasing an additional 100,368 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Paylocity in the 2nd quarter worth about $102,000. We Are One Seven LLC increased its stake in Paylocity by 431.9% in the 1st quarter. We Are One Seven LLC now owns 2,404 shares of the software maker’s stock worth $123,000 after purchasing an additional 1,952 shares in the last quarter. Finally, NumerixS Investment Technologies Inc increased its stake in Paylocity by 2,000.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the software maker’s stock worth $124,000 after purchasing an additional 2,000 shares in the last quarter. 65.41% of the stock is currently owned by hedge funds and other institutional investors.
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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