Analysts predict that Paylocity Holding (NASDAQ:PCTY) will post $110.64 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Paylocity’s earnings. The lowest sales estimate is $110.49 million and the highest is $110.94 million. Paylocity posted sales of $90.27 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22.6%. The business is expected to report its next earnings results on Thursday, May 3rd.
On average, analysts expect that Paylocity will report full-year sales of $370.32 million for the current fiscal year, with estimates ranging from $369.60 million to $370.80 million. For the next year, analysts forecast that the business will report sales of $451.09 million per share, with estimates ranging from $442.30 million to $457.35 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Paylocity.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Paylocity had a net margin of 3.57% and a return on equity of 8.93%. The business had revenue of $86.00 million for the quarter, compared to analysts’ expectations of $85.03 million. During the same period last year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 25.3% on a year-over-year basis.
Several equities analysts have commented on the company. BidaskClub raised Paylocity from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Zacks Investment Research lowered Paylocity from a “hold” rating to a “sell” rating in a research report on Wednesday, April 11th. ValuEngine raised Paylocity from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. First Analysis raised their price objective on Paylocity from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, March 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective (up previously from $60.00) on shares of Paylocity in a research report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.57.
In other news, SVP Edward W. Gaty sold 6,747 shares of Paylocity stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $46.33, for a total value of $312,588.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen Carnahan purchased 1,380 shares of the stock in a transaction dated Friday, March 16th. The stock was bought at an average cost of $53.91 per share, with a total value of $74,395.80. Following the transaction, the director now owns 7,908 shares in the company, valued at $426,320.28. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 290,927 shares of company stock valued at $13,750,422. 48.80% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in Paylocity by 4.9% in the 3rd quarter. New York State Common Retirement Fund now owns 164,015 shares of the software maker’s stock worth $8,007,000 after buying an additional 7,604 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Paylocity by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 108,841 shares of the software maker’s stock worth $5,313,000 after buying an additional 2,993 shares in the last quarter. American International Group Inc. increased its holdings in Paylocity by 8.1% in the 3rd quarter. American International Group Inc. now owns 17,429 shares of the software maker’s stock worth $851,000 after buying an additional 1,304 shares in the last quarter. Legal & General Group Plc increased its holdings in Paylocity by 47.7% in the 3rd quarter. Legal & General Group Plc now owns 11,412 shares of the software maker’s stock worth $556,000 after buying an additional 3,686 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Paylocity by 5.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 119,675 shares of the software maker’s stock worth $5,843,000 after buying an additional 6,146 shares in the last quarter. 62.60% of the stock is owned by hedge funds and other institutional investors.
PCTY stock traded up $0.87 on Friday, reaching $54.92. The company’s stock had a trading volume of 22,018 shares, compared to its average volume of 259,477. Paylocity has a 12-month low of $37.91 and a 12-month high of $57.16. The firm has a market capitalization of $2,843.23, a price-to-earnings ratio of 207.88, a PEG ratio of 8.12 and a beta of 1.99.
TRADEMARK VIOLATION NOTICE: “Paylocity Holding (PCTY) Expected to Announce Quarterly Sales of $110.64 Million” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://ledgergazette.com/2018/04/23/paylocity-holding-pcty-expected-to-announce-quarterly-sales-of-110-64-million.html.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.