$217.91 Million in Sales Expected for Paylocity Holding Co. (NASDAQ:PCTY) This Quarter

Wall Street analysts expect Paylocity Holding Co. (NASDAQ:PCTYGet Rating) to post $217.91 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Paylocity’s earnings, with the highest sales estimate coming in at $219.10 million and the lowest estimate coming in at $217.50 million. Paylocity posted sales of $167.45 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.1%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Paylocity will report full year sales of $841.61 million for the current year, with estimates ranging from $841.20 million to $842.80 million. For the next year, analysts forecast that the firm will post sales of $1.04 billion, with estimates ranging from $1.02 billion to $1.06 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Paylocity.

Paylocity (NASDAQ:PCTYGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $0.91 by $0.31. The firm had revenue of $245.97 million during the quarter, compared to the consensus estimate of $241.64 million. Paylocity had a net margin of 11.06% and a return on equity of 17.32%. The company’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share.

Several equities analysts have recently commented on the stock. Cowen lowered their price objective on shares of Paylocity from $265.00 to $240.00 in a research note on Friday, May 6th. Credit Suisse Group initiated coverage on shares of Paylocity in a research report on Wednesday, March 23rd. They set a “neutral” rating and a $225.00 price target on the stock. Cowen reduced their price target on shares of Paylocity from $265.00 to $240.00 in a research report on Friday, May 6th. Citigroup initiated coverage on shares of Paylocity in a research report on Tuesday, February 1st. They set a “buy” rating and a $230.00 price target on the stock. Finally, Jefferies Financial Group reduced their price target on shares of Paylocity from $255.00 to $200.00 in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $250.18.

Shares of NASDAQ:PCTY opened at $168.00 on Thursday. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 108.39 and a beta of 1.30. The company has a 50-day moving average price of $192.24 and a 200-day moving average price of $211.37. Paylocity has a 12 month low of $152.97 and a 12 month high of $314.49.

In other Paylocity news, CAO Nicholas Rost sold 276 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $200.00, for a total value of $55,200.00. Following the transaction, the chief accounting officer now directly owns 2,816 shares in the company, valued at $563,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 48,930 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $163.12, for a total transaction of $7,981,461.60. Following the completion of the transaction, the director now owns 11,467,247 shares in the company, valued at $1,870,537,330.64. The disclosure for this sale can be found here. Insiders sold 118,417 shares of company stock worth $22,002,622 over the last quarter. Insiders own 28.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearstead Advisors LLC purchased a new stake in shares of Paylocity in the third quarter worth $33,000. Parallel Advisors LLC increased its stake in shares of Paylocity by 101.7% in the first quarter. Parallel Advisors LLC now owns 121 shares of the software maker’s stock worth $25,000 after purchasing an additional 61 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Paylocity by 110.8% in the third quarter. Rockefeller Capital Management L.P. now owns 175 shares of the software maker’s stock worth $49,000 after purchasing an additional 92 shares in the last quarter. Covestor Ltd purchased a new stake in shares of Paylocity in the fourth quarter worth $42,000. Finally, Signaturefd LLC increased its stake in shares of Paylocity by 1,730.0% in the first quarter. Signaturefd LLC now owns 183 shares of the software maker’s stock worth $38,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 69.01% of the company’s stock.

About Paylocity (Get Rating)

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.

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