Zacks: Analysts Expect Paylocity Holding Corp (PCTY) Will Announce Quarterly Sales of $117.54 Million

Equities research analysts expect Paylocity Holding Corp (NASDAQ:PCTY) to announce sales of $117.54 million for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Paylocity’s earnings, with estimates ranging from $117.20 million to $118.20 million. Paylocity reported sales of $96.62 million during the same quarter last year, which indicates a positive year over year growth rate of 21.7%. The firm is expected to report its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Paylocity will report full-year sales of $464.80 million for the current financial year, with estimates ranging from $464.46 million to $465.50 million. For the next 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’ sales calculations are a mean average based on a survey of research analysts that follow Paylocity.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, May 2nd. The software maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.19. Paylocity had a net margin of 9.52% and a return on equity of 15.29%. The company had revenue of $139.60 million for the quarter, compared to analyst estimates of $135.97 million. During the same period in the prior year, the business earned $0.71 earnings per share. Paylocity’s quarterly revenue was up 23.1% on a year-over-year basis.

A number of equities analysts have recently issued reports on PCTY shares. Zacks Investment Research upgraded shares of Paylocity from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Raymond James increased their price objective on shares of Paylocity from $75.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, February 7th. SunTrust Banks increased their price objective on shares of Paylocity to $83.00 and gave the company a “positive” rating in a report on Tuesday, February 5th. Craig Hallum increased their price objective on shares of Paylocity from $65.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, February 7th. Finally, BidaskClub upgraded shares of Paylocity from a “buy” rating to a “strong-buy” rating in a report on Friday, January 25th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $90.50.

Shares of PCTY stock traded up $2.21 during trading hours on Thursday, reaching $100.94. 214,505 shares of the company were exchanged, compared to its average volume of 290,092. Paylocity has a fifty-two week low of $53.46 and a fifty-two week high of $103.71. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 325.61, a PEG ratio of 8.96 and a beta of 2.07.

In other Paylocity news, CEO Steven R. Beauchamp sold 55,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $96.40, for a total value of $5,302,000.00. Following the sale, the chief executive officer now directly owns 1,881,682 shares in the company, valued at $181,394,144.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 500,000 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $86.50, for a total transaction of $43,250,000.00. The disclosure for this sale can be found here. Insiders sold 847,405 shares of company stock worth $75,586,534 over the last 90 days. 41.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. FTB Advisors Inc. raised its holdings in Paylocity by 25.1% in the fourth quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after purchasing an additional 129 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in Paylocity by 34.8% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock worth $47,000 after purchasing an additional 200 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Paylocity in the first quarter worth $61,000. Hilton Capital Management LLC acquired a new stake in Paylocity in the first quarter worth $63,000. Finally, First Quadrant L P CA raised its holdings in Paylocity by 460.3% in the fourth quarter. First Quadrant L P CA now owns 1,496 shares of the software maker’s stock worth $90,000 after purchasing an additional 1,229 shares during the period. Institutional investors own 65.36% of the company’s stock.

About Paylocity

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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