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 Holding Corporation (Nasdaq: PCTY) has announced a conference call to discuss its third quarter fiscal 2023 results, scheduled for May 4, 2023, at 4:30 PM Central Time. The call will be accessible via a live webcast on the Company’s Investor Relations page. A press release detailing the Company’s results will be issued prior to the call, and a replay will be available afterward on their website. Paylocity, based in Schaumburg, IL, specializes in cloud-based HR and payroll solutions, aiming to provide innovative tools that help organizations manage their workforce effectively. Founded in 1997, the company has positioned itself as an industry leader, focusing on automation and data-driven insights to enhance workplace environments.
Paylocity (NASDAQ: PCTY) has launched AI Assist, a significant advancement in HR technology that integrates generative AI with its core HCM platform. This tool aims to enhance internal communications by allowing HR professionals to create effective announcements quickly using simple prompts. The initiative is part of Paylocity's broader strategy to improve employee engagement and organizational culture amidst evolving workplace dynamics. AI Assist adds to existing features like enhanced chat and collaboration tools, reflecting robust growth in the adoption of Paylocity's Community platform, which fosters better employee connections.
Paylocity Holding Corporation (Nasdaq: PCTY) reported strong financial results for Q2 2023, ending December 31, 2022. Total revenue reached $273.0 million, marking a 39% increase year-over-year, with recurring revenue at $256.4 million, up 31%. GAAP net income was $15.6 million, or $0.28 per share. The adjusted EBITDA for the quarter stood at $77.4 million. The company anticipates third-quarter total revenue between $330.5 million and $334.5 million, reflecting a projected 35% growth. For the full fiscal year, expected revenue is between $1.156 billion and $1.161 billion, representing a 36% growth compared to fiscal 2022.
Paylocity Holding Corporation (Nasdaq: PCTY) announced a conference call to discuss its second quarter fiscal 2023 results, scheduled for February 2, 2023, at 4:30 PM CT. Investors can access the live webcast on the Company's website. A press release detailing the financial results will precede the call and be available in the investor relations section of their site. Paylocity, founded in 1997 and publicly traded since 2014, offers cloud-based HR and payroll solutions, and is recognized for its commitment to creating positive workplace environments.
Paylocity (NASDAQ: PCTY) has integrated Cloudsnap, a low-code solution, into its platform, enhancing data integration capabilities. This allows clients to create a unified employee data source, boosting operational efficiency. Hundreds of integrations are available, with recent additions facilitating data flow across HR, accounting, and finance. Key innovations include automatic data imports for quicker onboarding and embedding third-party services within the Paylocity interface. This integration aims to streamline business processes, improve compliance, and foster collaboration, making HR a central hub for organizational efficiency.
Paylocity Holding Corporation (PCTY) announced strong financial results for Q1 2023, reporting total revenue of $253.3 million, up 39% year-over-year, and recurring revenue of $245.4 million, representing a 36% increase. GAAP net income reached $30.4 million or $0.54 per share. The company maintains a robust balance sheet with $65.5 million in cash and no long-term debt. Looking ahead, Paylocity expects Q2 revenue between $257.0 million and $261.0 million and full year revenue of $1.122 billion to $1.127 billion.
Paylocity hosted its 14th annual customer conference, Elevate, with nearly 4,000 attendees from HR, Finance, IT, and Operations. The conference emphasized the growing role of HR in enhancing organizational collaboration amid tight labor markets and employee expectations. Key highlights included advancements in the Paylocity platform aimed at addressing modern HR challenges like disconnects in processes and communication. These enhancements included improved workflows, data insights, and community features. Paylocity continues to position itself as a vital tool in building culture and connecting employees.
Paylocity Holding Corporation (Nasdaq: PCTY) will host a conference call on November 3, 2022, at 4:30 PM CT to discuss its first quarter fiscal 2023 results. A live webcast will be accessible on the Company’s website, with a replay available afterward. The discussion will focus on the latest performance metrics and strategic direction. As a provider of cloud-based HR and payroll solutions, Paylocity emphasizes innovation and support for businesses in navigating contemporary challenges.
Paylocity Holding Corporation (Nasdaq: PCTY) announced strong financial results for Q4 and FY 2022, ending June 30, 2022. Q4 total revenue reached $228.9 million, a 37% year-over-year increase, while FY 2022 total revenue was $852.7 million, up 34%. Recurring and other revenue for Q4 was $226.9 million, also up 36%, and FY 2022 recurring revenue totaled $847.7 million. GAAP net income for FY 2022 was $90.8 million or $1.61 per diluted share. The company provided optimistic guidance for FY 2023, projecting total revenue of $1.087 billion to $1.092 billion.
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