Top Tech Stocks
Technology stocks were lower in afternoon trade, reversing earlier gains and with shares of technology companies in the S&P 500 recently down about 0.3%.
In company news, Paylocity Holding ( PCTY ) pushed to steady gains Friday after a better-than-expected rise in fiscal Q4 revenue by cloud-based provider of payroll and human capital management software firm offset it reporting a wider net loss compared with year-ago levels
PCTY shares were ahead nearly 6% in recent trade at $23.49 each, earlier advancing to an intra-day high of $23.80 a share. The stock has traded in a range of $15.24 to $31.00 a share since pricing its initial public offering of 5 million shares at $17 apiece on March 19, rising over 30% during that span through Thursday's close.
The company late Thursday posted a net loss of $0.05 per share, expanding on a $0.01 per share net loss by the company during the same quarter last year but still meeting Wall Street expectations for the period.
Total revenue increased 41% year over year to $28.6 million, beating the Capital IQ consensus by around $900,000.
For the current quarter, PCTY is expecting a net loss in a range of $0.08 to $0.10 per share, missing analyst forecasts for a $0.04 per share Q1 loss. Revenue is projected in a range of $29 million to $30 million, edging out the consensus view by at least $300,000 per share.
It also is forecasting a FY15 net loss of $0.12 to $0.16 per share, or at least $0.01 wider than the analyst view. Revenue is seen in a range of $139 million to $143 million, beating estimates by at least $5.1 million.
In other sector news,
(+) WYY, (+8.8%) Net revenue rises 9.2% year over year to $12.4 mln. Swings to $669,000 Q2 net loss, which includes around $400,000 in acquisition-related costs, reversing a $139,000 profit last year. No analyst estimates were available for comparison.
(-) ICLD, (-9.0%) Q2 net loss widens to $9.97 mln, or $0.96 per share, from $1.31 mln last year and exceeds the Capital IQ consensus looking for a $0.39 per share loss. Revenue rises 34% year over year to $17.8 mln, lagging estimates by $4.7 mln.
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