Paylocity Holding Corp (NASDAQ:PCTY) Expected to Post Quarterly Sales of $126.72 Million

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Analysts expect Paylocity Holding Corp (NASDAQ:PCTY) to post $126.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Paylocity’s earnings. The highest sales estimate is $128.72 million and the lowest is $124.88 million. Paylocity posted sales of $120.37 million during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The company is expected to issue its next quarterly earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Paylocity will report full-year sales of $557.46 million for the current year, with estimates ranging from $555.62 million to $559.46 million. For the next fiscal year, analysts expect that the firm will report sales of $623.37 million, with estimates ranging from $559.40 million to $641.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Paylocity.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, May 7th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.13. The business had revenue of $171.65 million for the quarter, compared to analysts’ expectations of $164.76 million. Paylocity had a return on equity of 20.82% and a net margin of 12.65%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share.

PCTY has been the topic of several research reports. Citigroup raised their target price on Paylocity from $94.00 to $124.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald decreased their price objective on Paylocity from $165.00 to $146.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Raymond James decreased their price objective on Paylocity from $165.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Zacks Investment Research downgraded Paylocity from a “buy” rating to a “hold” rating and set a $102.00 price objective on the stock. in a research note on Friday, March 27th. Finally, BidaskClub raised Paylocity from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Paylocity currently has an average rating of “Buy” and an average price target of $131.13.

In other Paylocity news, COO Michael R. Haske sold 15,804 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $90.00, for a total transaction of $1,422,360.00. Following the transaction, the chief operating officer now owns 796,892 shares in the company, valued at $71,720,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 9,565 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $137.07, for a total value of $1,311,074.55. The disclosure for this sale can be found here. Insiders have sold 120,244 shares of company stock worth $14,495,543 in the last quarter. 37.80% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the business. Sowell Financial Services LLC raised its holdings in shares of Paylocity by 30.2% during the first quarter. Sowell Financial Services LLC now owns 375 shares of the software maker’s stock valued at $33,000 after acquiring an additional 87 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Paylocity by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 17,918 shares of the software maker’s stock valued at $2,165,000 after acquiring an additional 120 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Paylocity by 4.3% during the first quarter. Redhawk Wealth Advisors Inc. now owns 3,188 shares of the software maker’s stock valued at $282,000 after acquiring an additional 130 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Paylocity during the first quarter valued at approximately $14,573,000. Finally, Advisor Group Inc. raised its holdings in shares of Paylocity by 5.1% during the fourth quarter. Advisor Group Inc. now owns 4,136 shares of the software maker’s stock valued at $500,000 after acquiring an additional 202 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:PCTY opened at $142.94 on Tuesday. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 114.35, a PEG ratio of 6.96 and a beta of 1.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day simple moving average is $129.90 and its two-hundred day simple moving average is $120.86. Paylocity has a 52-week low of $66.98 and a 52-week high of $150.73.

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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