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- Paylocity has been able to grow revenue nearly 40% annually over the last several years. Revenue growth has coincided with an increase in gross margin.
- Paylocity's growth has been the result of strong demand from the customer base but also rapid customer growth. The company will need to continue to rapidly acquire new customers.
- Due to their current size and market environment, Paylocity should continue to rapidly grow revenue and their customer base over the next few years.
- However, the midsized market will start to get more competitive. Over the next few years, management will need to figure out how to maintain growth in a more competitive market.
- The midsized market represents a sizable market opportunity. Due to their current size, Paylocity should continue to rapidly grow revenue. As a result, Paylocity should continue to outperform.
Standing Behind My Full Year Paylocity Price Target And Talking Operational Consistency
- PCTY should be at $20 to end the calendar year - a price target I set in mid-May and that looked within reach before the recent beta driven pullback.
- PCTY should grow FFY15 revenues at least 40%.
- PCTY had cash provided by operations that was in trend line despite having a net loss growth of ~$7 million.
Short-Term Losses, Trading Opportunity In Sight For Paylocity Holding Corp.
- September 14 will mark the end of the 180 day lockup period initiated with the March 18, 2014 IPO of PCTY.
- Recent research shows price declines of between (-2%) and (-5.5%) in the time period surrounding a company's lockup expiration.
- Although PCTY has performed relatively well since bottoming out in May, the supply shock in sight with the freeing up of 41.9 million shares suggests a short opportunity ahead.
Paylocity Looks Good Into Earnings And Into Year-End
- PCTY should benefit greatly in FQ3/FQ4 from a rush to meet compliance with new health care regulation.
- PCTY should post at worst another great quarter of revenue growth, expense management, and consistent break-even management of its bottom line.
- Several technical factors should help take PCTY's stock higher into year-end.
Paylocity Holding Corp. Could Realistically Have 66% Upside Into Year End
- PCTY has an incredibly profitable underlying business.
- PCTY has invested in the future at little cost to the present.
- PCTY will have a best of breed, first to deploy advantage at helping solve the healthcare reform HCM problem.
- Cloud-based provider of payroll and HCM software solutions for medium-sized organizations.
- Top line increased 40% for the six months ended December '13 vs December '12.
- March is the largest quarter in PCTY's business.
- PCTY believes its current target addressable market is $8.0 billion.
Paylocity IPO Could Pay Your Bills With Expected Pop On Wednesday
- PCTY plans to raise $100.1 million in its upcoming IPO, by offering 6.7 million shares at an expected range of $14-$16 per share.
- PCTY is a cloud-based provider of software for payroll and human capital management, facing stiff competition from similar companies, including ADP and PayChex Inc.
- We are positive on this IPO, given PCTY's impressive revenue yet unsteady quarterly results.
Thu, Nov. 6, 4:15 PM
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