Paylocity Holdin Stock Price, News & Analysis

Paylocity (NASDAQ: PCTY) announced its acquisition of Samepage, a team collaboration platform, on November 16, 2020. This acquisition aims to enhance Paylocity's HR and payroll software capabilities by integrating Samepage's tools for task management and real-time collaboration. By doing so, Paylocity is set to improve productivity and efficiency for remote workforces while providing modern solutions for communication and collaboration needs. This strategic move reflects Paylocity's commitment to delivering advanced human capital management solutions.

Paylocity Holding Corporation (PCTY) reported strong financial results for Q1 fiscal 2021, ending September 30, 2020. Total revenue rose by 7% year-over-year to $135.8 million, with recurring and other revenue increasing 11% to $134.9 million. Despite challenges from the COVID-19 pandemic, the company is gaining momentum in sales. The GAAP net income for the quarter was $12.5 million, or $0.22 per share. Looking ahead, PCTY projects Q2 revenue between $141 million and $145 million, indicating a growth of 7%-10% over the previous year.

Paylocity Holding Corporation (PCTY) will hold a conference call to discuss its Q1 fiscal 2021 results on November 5, 2020, at 4:00 PM Central Time. Interested participants can join the call by dialing (855) 226-3021 or accessing the live webcast at www.paylocity.com. A replay will be available post-call, with results also released beforehand on the company's investor relations page.

Paylocity (NASDAQ: PCTY) has launched its new touchless time clocks with thermal temperature scanning, enhancing workplace safety during the pandemic. This innovation allows for contactless time collection, addressing the challenges of maintaining social distancing. The clocks offer features like biometric fingerprint readers, facial recognition, and customizable employee attestations for monitoring wellness. CEO Steve Beauchamp emphasized that these advancements help organizations eliminate high-touch areas while boosting productivity. This addition complements Paylocity's existing time collection tools.

On Aug. 27, 2020, Paylocity (NASDAQ: PCTY) announced details for its 12th annual Elevate Conference, scheduled to take place virtually from Sept. 16-17. The conference aims to provide education, training, and recertification to HR professionals amidst the ongoing challenges in human capital management (HCM). Attendees will have access to recorded content for a month post-event and can expect insights from industry leaders and Paylocity executives on business developments. The agenda includes over 30 speakers and networking opportunities.

Paylocity Holding Corporation (PCTY) announced its Q4 and FY 2020 financial results, showcasing strong growth despite COVID-19 challenges. Q4 total revenue reached $130.6 million, an 8% YoY increase, while FY 2020 total revenue was $561.3 million, up 20% YoY. Recurring and other revenue for Q4 was $129.3 million, a 13% increase, and $546.2 million for FY 2020, reflecting a 22% growth. The company reported a GAAP net income of $64.5 million for FY 2020, translating to $1.15 per share. Looking ahead, PCTY projects Q1 2021 revenue between $131.5 million and $135.5 million.

Paylocity (NASDAQ: PCTY) has launched a new feature called Ask an Expert, enhancing its existing Community platform. This feature allows employees to directly connect with subject matter experts to ask questions about payroll, benefits, and other topics, streamlining communication for remote work environments. Key offerings include custom groups for various inquiries and real-time notifications for administrators. This initiative aims to increase employee engagement and productivity, especially amidst ongoing changes due to the pandemic.