Welcome to our dedicated page for Paylocity Holding Corporation news (Ticker: PCTY), a resource for investors and traders seeking the latest updates and insights on Paylocity Holding Corporation stock.
Paylocity Holding Corporation (NASDAQ: PCTY) is a leading provider of cloud-based human capital management (HCM) and payroll software solutions, primarily servicing small to midsize clients in the United States. Founded in 1997 and publicly traded since 2014, Paylocity's unique offering bridges the gap between traditional payroll services and advanced software solutions, targeting businesses with 10 to 5,000 employees.
Over the years, Paylocity has expanded its product suite to include not just core payroll services but also a comprehensive range of HCM solutions such as time and attendance tracking, recruiting software, and workplace collaboration tools. The company's platform is designed to elevate payroll and HR functions from the back office to the boardroom, offering the same level of sophisticated cloud software typically found in sales, finance, and operations.
Paylocity has received numerous accolades, including being an eight-time Inc. Magazine winner for America's fastest-growing privately-held companies and a seven-time winner of Chicago's 101 Best & Brightest Companies to Work For. The company is also a four-time winner of the Best Places to Work in Illinois.
Recent achievements include the launch of new products like Recognition & Rewards and Employee Voice, which aim to enhance employee engagement and build stronger workplace connections. The company continues to innovate by integrating generative AI into its HCM platform and offering a next-generation mobile app for seamless access.
Financially, Paylocity has shown consistent growth. As of the first quarter of fiscal year 2024, the company reported a 25% increase in total revenue and a 19% rise in recurring revenue. The company's commitment to innovation and client engagement was further demonstrated at the annual Elevate Client Conference, where new product releases were announced.
Paylocity's latest ventures include AI-driven shift scheduling, which optimizes employee schedules, and AI-powered learning recommendations to aid in employee development. These advancements have been well-received, with significant adoption rates among early users.
Headquartered in Schaumburg, IL, Paylocity continues to push the boundaries of modern HR, helping businesses automate and streamline their HR and payroll processes. For more information, visit www.paylocity.com.
Paylocity (Nasdaq: PCTY) reported strong financial results for Q4 and FY 2024. Q4 total revenue increased 16% year-over-year to $357.3 million, while FY 2024 total revenue grew 19% to $1,402.5 million. The company saw 8% year-over-year client growth to 39,050 clients and 8% growth in average revenue per client. FY 2024 GAAP net income increased 47% to $206.8 million, or $3.63 per diluted share. Paylocity repurchased 1.1 million shares for $150 million in Q4. The company provided guidance for Q1 and FY 2025, expecting continued growth in recurring and total revenue. Co-CEO Steve Beauchamp will transition to Executive Chairman, with Toby Williams becoming sole CEO on August 5, 2024.
Paylocity has announced a conference call to discuss its Q4 and FY24 earnings results on August 1st at 4:30 pm Central Time (5:30 pm Eastern Time). The call will be webcast live on the company's Investor Relations page. Dial-in details will be provided upon clicking a link available on the website. A replay of the call will be archived on Paylocity's website. The company will issue a press release with highlights of its results before the call, accessible on the investor relations section of the website.
Paylocity Holding (Nasdaq: PCTY) reported strong financial results for the third quarter of fiscal year 2024, with total revenue up 18% to $401.3 million and recurring & other revenue up 17% to $366.8 million. The company's Board of Directors also approved a $500 million share repurchase program.
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