Welcome to our dedicated page for Paylocity Holdin news (Ticker: PCTY), a resource for investors and traders seeking the latest updates and insights on Paylocity Holdin stock.
Paylocity Holding Corporation provides cloud-based HR, Finance, and IT software solutions through a unified platform for payroll, human capital management, talent, benefits, time, learning, performance, spend management, and workplace workflows. News about PCTY commonly covers fiscal results, recurring revenue trends, cash flow, share repurchase activity, and the company's expansion of AI across everyday HR, finance, and IT processes.
Company updates also include product launches such as Paylocity Elevate Solutions, acquisition activity including Grayscale Labs for AI-powered recruiting automation, and platform enhancements aimed at recruiting, payroll administration, candidate engagement, and operational support for clients.
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Paylocity (NASDAQ: PCTY), a leading provider of cloud-based HR and payroll software, announced new COVID-19 Return to Work offerings on July 8, 2020. The solutions aim to assist businesses in safely reopening and adapting their workforce management strategies in response to the ongoing pandemic. Key features include mobile attestation for health checks, mobile photo punch for clocking in, and enhancements for recruiting and onboarding. Additionally, Paylocity updated its labor cost dashboard to provide better insights on labor costs amidst ongoing financial challenges.
Paylocity reported strong Q3 2020 financials, with total revenue of $171.6 million, up 23% year-over-year. Recurring and other revenue reached $167.1 million, reflecting a 25% increase. The GAAP operating income was $47.7 million, compared to $36.2 million in Q3 2019. Net income also rose to $40.1 million or $0.72 per share. For Q4 2020, the company anticipates revenue between $121 million and $131 million, indicating 5% growth. Full-year revenue guidance is set between $551.7 million and $561.7 million.