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 (PCTY) delivers cloud-based human capital management and payroll solutions for modern workforce management. This news hub provides investors and HR technology professionals with timely updates on corporate developments, financial performance, and product innovations shaping the HR software sector.
Access official press releases covering quarterly earnings, strategic partnerships, and technology enhancements alongside analysis of market trends impacting PCTY's position in competitive HR tech landscape. Our curated collection simplifies tracking of leadership changes, regulatory compliance updates, and platform feature releases.
Bookmark this page for streamlined monitoring of Paylocity's progress in unifying payroll processing with human resource management through its SaaS platform. Return regularly for verified updates on acquisitions, customer growth metrics, and innovations in workforce analytics tools.
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.
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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