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) announced significant advancements in employee engagement and retention through its HCM platform, amid rising workforce expectations. The company reported over 40% growth in monthly Community users since July 2021, with employee posts increasing by 135%. Notable features include video sharing and a social collaboration hub, enhancing communication and connection. Paylocity's Modern Workforce Index indicates a correlation between executive engagement on the platform and improved company metrics, including a 15% reduction in turnover rates.
Paylocity Holding Corporation (Nasdaq: PCTY) has announced a conference call set for August 4, 2022, at 4:30 PM CT to review its fourth quarter and fiscal 2022 results. Investors can access the live webcast on the Company’s Investor Relations page, with a replay available post-call. Paylocity, headquartered in Schaumburg, IL, specializes in cloud-based HR and payroll software solutions and is recognized for its strong workplace culture and innovative approach, helping businesses with automation and data-driven insights.
Paylocity Holding Corporation (NASDAQ: PCTY) reported a strong Q3 2022, with total revenue of $246.0 million, a 32% year-over-year increase. Recurring and other revenue also rose to $245.0 million, reflecting continued momentum from its successful selling season. The company achieved a GAAP net income of $34.8 million or $0.62 per share, while adjusted EBITDA stood at $85.7 million. Looking ahead, Paylocity projects Q4 2022 total revenue of $215.5 million to $219.5 million and full fiscal year revenue of $839.2 million to $843.2 million, both indicating 32% growth.
Paylocity (PCTY) has launched Community Plus, enhancing its online collaboration hub to improve employee engagement and retention in the evolving work landscape. This new feature set allows for real-time communication, file sharing, and better team connectivity, aimed at addressing employee expectations in remote and hybrid environments. Since launching Community, Paylocity has seen a 56% increase in engagement metrics and 500% growth in peer recognition. These features are designed to aid businesses in tackling workforce challenges, particularly in the context of The Great Resignation.
Paylocity Holding Corporation (PCTY) has announced its upcoming conference call to discuss its third-quarter fiscal 2022 results, scheduled for May 5th, 2022, at 4:30 p.m. Central Time. Investors and analysts can join the call by dialing the provided numbers or listening via the live webcast on Paylocity's official website. A press release detailing the company's performance will be published ahead of the call, accessible in the investor relations section.
Paylocity (NASDAQ: PCTY) has announced key executive changes, promoting Toby Williams to President and Co-CEO, while Ryan Glenn becomes CFO. Steve Beauchamp remains as Co-CEO and board member. Williams, who has been with the company since 2017, emphasizes a commitment to growth and maintaining a strong workplace culture for over 4,500 employees. Michael Haske, a long-time executive, will step down in September 2022 after 15 years at the company. The press release highlights ongoing investments in technology and service improvements, aiming for continued market expansion.
Paylocity announced a strong performance in Q2 2022, reporting total revenue of $196.0 million, up 34% year-over-year. Recurring revenue also increased to $195.0 million, demonstrating consistent growth. GAAP net income stood at $9.9 million or $0.17 per share, with non-GAAP adjusted EBITDA reaching $46.6 million.
The company completed the acquisition of Cloudsnap, enhancing integration capabilities, and projects 30% revenue growth for Q3 2022, with guidance for total fiscal 2022 revenue between $829.0 million and $834.0 million.
Paylocity (PCTY) announced the acquisition of Cloudsnap Inc., aimed at enhancing integration solutions for HR and payroll functions. Cloudsnap's low-code platform will streamline data exchanges between various business applications, reducing manual processes and inefficiencies. This acquisition is expected to improve the user experience by automating data flows across systems like HR and finance. Paylocity anticipates no significant financial impact on its results for Q3 and fiscal 2022. The acquisition is part of Paylocity's commitment to modernizing workforce solutions.
Paylocity Holding Corporation (Nasdaq: PCTY) has announced a conference call to discuss its second quarter fiscal 2022 results, scheduled for February 3rd at 4:30 pm Central Time. Investors can join via phone or listen to a live webcast. The company will also issue a press release highlighting its results before the call. Paylocity, based in Schaumburg, IL, specializes in cloud-based HR and payroll software solutions, aiming to help organizations create better workplaces through innovative technology.
Fidelity Investments has integrated payroll capabilities with Paylocity to enhance the Fidelity Advantage 401(k) pooled employer plan. This integration aims to automate contributions and reduce administrative burdens for small- and mid-sized businesses, allowing more employees to access retirement plans. Approximately 57 million private sector workers lack employer-sponsored retirement access, a gap that this initiative seeks to close. The collaboration promotes efficiency, thereby improving employee benefits offerings, and addresses the urgent need for better retirement preparedness among workers.
FAQ
What is the current stock price of Paylocity Holding Corporation (PCTY)?
What is the market cap of Paylocity Holding Corporation (PCTY)?
What does Paylocity Holding Corporation specialize in?
When was Paylocity founded and when did it go public?
What is the ticker symbol for Paylocity Holding Corporation?
What are some of Paylocity's recent product innovations?
How many clients does Paylocity serve?
What awards has Paylocity won?
What financial growth did Paylocity achieve in the first quarter of fiscal year 2024?
Where is Paylocity headquartered?
What is the mission of Paylocity?
How can I get more information about Paylocity?
