Paylocity Holdin Stock Price, News & Analysis

Paylocity (PCTY) reported strong Q1 FY2025 results with total revenue reaching $363.0 million, up 14% year-over-year. Recurring & other revenue grew 14% to $333.1 million. The company's GAAP net income increased to $49.6 million ($0.88 per share) compared to $34.5 million ($0.61 per share) in Q1 FY2024. Notable developments include the acquisition of Airbase, a finance and spend management software solution, completed on October 1, 2024. For FY2025, Paylocity expects total revenue between $1.535-1.550 billion, representing approximately 10% growth.

Paylocity Holding (Nasdaq: PCTY), a leading provider of cloud-based HR, payroll, and spend management software solutions, has announced a conference call to review its first quarter fiscal 2025 results. The call is scheduled for Wednesday, October 30th at 4:30 pm Central Time (5:30 pm Eastern Time).

A live webcast of the call will be available on the company's Investor Relations page. Dial-in details for phone access will be provided through a separate link. A press release highlighting the company's results will be issued before the conference call and will be accessible on Paylocity's website in the investor relations section.

Paylocity, founded in 1997 and publicly traded since 2014, offers intuitive software solutions to help businesses address current challenges and prepare for future opportunities. The company is known for its unique culture and is consistently recognized as one of the best places to work.

Paylocity (NASDAQ: PCTY) has unveiled its new AI Assistant, a conversational AI-driven tool designed to streamline HR processes and enhance employee experience. This innovation builds on Paylocity's existing AI capabilities, offering real-time, contextual support across the platform. The AI Assistant aims to simplify HR-related tasks for professionals and provide intuitive assistance to employees.

Key features of the AI Assistant include:

• Faster completion of administrative tasks for HR professionals
• Immediate, context-aware guidance for employees
• Customized responses based on user activity and recent actions
• Self-serve support for product training and configuration guidance
• Enhanced self-service capabilities with personalized prompts and responses

The AI Assistant is currently available to all Paylocity clients as part of its core HR and Payroll offering, with expanded functionality expected this winter.

Paylocity (NASDAQ: PCTY), a cloud-based HR and payroll software solutions provider, has announced a multi-year corporate sponsorship with the NHL's Dallas Stars. This marks Paylocity's first official sponsorship with an NHL franchise. The Dallas Stars have been using Paylocity's HR and payroll solutions since 2015.

The partnership aims to strengthen Paylocity's connection to the Stars community of fans and support the team's corporate citizenship initiatives. It also allows Paylocity to connect with Texas-based organizations and Stars fans nationwide. Toby Williams, Paylocity's President and CEO, expressed pride in supporting the Stars' behind-the-scenes operations. Brad Alberts, Dallas Stars' President and CEO, welcomed the enhanced partnership, acknowledging Paylocity's contribution to their HR and payroll needs.

Paylocity (NASDAQ: PCTY) has completed its acquisition of Airbase Inc., a modern finance and spend management software solution. This acquisition expands Paylocity's suite and is expected to deliver integrated value to HR and finance leaders by allowing them to manage all spend on a single platform. The integration will enable companies to manage payroll and non-payroll spend through a single pane of glass, providing real-time visibility, faster financial close, improved planning, and stronger financial controls.

Toby Williams, President and CEO of Paylocity, stated that this acquisition expands their total addressable market to the Office of the CFO and strengthens their position as the most modern software platform in the market. The acquisition is expected to represent approximately 1% of total revenue and dilute adjusted EBITDA margin by approximately 100 basis points in fiscal 2025.

Paylocity (NASDAQ: PCTY) has launched Headcount Planning, a new integrated solution that unites Finance, HR, and Talent Acquisition for seamless workforce planning. This offering builds on Paylocity's acquisition of Trace in December 2023 and uses the Paylocity employee record as the single source of truth for company-wide headcount planning.

The solution enables businesses to:

• Proactively map headcount needs across the organization
• Manage workflows and approvals from initial forecasting through opening new roles
• Access comprehensive reporting to stay ahead of changing talent needs

Key benefits include plan creation & real-time management, automation around the employee lifecycle, setting clear company goals, expediting real-time changes and approvals with powerful automation workflows, and providing transparency to maximize human capital investments.

Paylocity (NASDAQ: PCTY) has announced a definitive agreement to acquire Airbase Inc., a leading spend management software solution provider, for approximately $325 million. This acquisition marks Paylocity's expansion into the Office of the CFO, allowing clients to manage all business-related spend on a consolidated platform. Airbase's suite includes bill pay / accounts payable automation, expense management, corporate cards, and procurement capabilities.

The integration is expected to create a unified experience across HCM and Finance solutions, offering real-time visibility, faster financial close, improved planning, and stronger financial controls. Airbase, founded in 2017, serves the 100-5,000 employee segment with over 500 clients. The deal is expected to close in Q1 or Q2 of fiscal 2025, representing about 1% of Paylocity's total revenue and diluting adjusted EBITDA margin by approximately 100 basis points in fiscal 2025.

Paylocity (NASDAQ: PCTY) introduces Benefits Decision Support, a new product simplifying benefits enrollment for HR teams by offering employees personalized recommendations based on individual health needs, financial considerations, and family dynamics. This innovation is part of Paylocity's comprehensive HCM platform and follows several product launches in the past year, including Recognition & Rewards, Employee Voice, Advanced Scheduling, Market Pay, and a reimagined mobile app.

The company has seen early success with these offerings, including over 30,000 market job searches within Market Pay and a highly-rated mobile app. Paylocity continues to lead in AI integration, with hundreds of thousands of AI-assisted interactions on its platform. Benefits Decision Support will be available to all clients starting in late August 2024, aiming to improve employee well-being and reduce HR administrative burden.

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.