Following these transactions, Diehl still retains ownership of 27,160 shares in the company. The shares were held indirectly through various funds managed by Adams Street Partners, LLC, where Diehl is a partner.Paylocity (NASDAQ:PCTY) Holding Corp, based in Schaumburg, Illinois, is known for its cloud-based payroll and human capital management software solutions. With a market capitalization of $11.6 billion and impressive gross profit margins of 69%, the company continues to be a significant player in the prepackaged software industry. According to InvestingPro, the company maintains strong financial health with a GREAT overall score, and holds more cash than debt on its balance sheet. Subscribers can access 15 additional ProTips and a comprehensive Pro Research Report for deeper insights into PCTY's performance and outlook.
Following these transactions, Diehl still retains ownership of 27,160 shares in the company. The shares were held indirectly through various funds managed by Adams Street Partners, LLC, where Diehl is a partner.
Paylocity Holding Corp, based in Schaumburg, Illinois, is known for its cloud-based payroll and human capital management software solutions. The company continues to be a significant player in the prepackaged software industry.
In other recent news, Paylocity Holding Corporation posted impressive Q1 FY2025 results. The company reported a total revenue of $363 million, marking a 14.3% increase compared to the same period last year. This growth was attributed to ongoing innovation and a unique value proposition in the human capital management market. In addition, Paylocity raised its full-year revenue guidance following the acquisition of Airbase and the launch of its AI Assistant.
The company's recurring and other revenue saw a 14.2% increase, while the adjusted gross profit improved to 74% and adjusted EBITDA margin stood at 35.5%. Strategic developments, such as the acquisition of Airbase and the launch of the Paylocity AI Assistant, have been key to the company's recent success.
Paylocity projects fiscal year 2025 recurring and other revenue to be between $1.427 and $1.442 billion. The company's recent developments and strong financial performance hint at a positive trajectory in the coming periods.
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