Paylocity Holding Corporation
PCTY —Price and target zones价格与目标区间
What the company does公司做什么
Paylocity makes cloud payroll and human-resources software for small and mid-size US businesses. It runs their payroll, tax filing, and staff records.Paylocity 为美国的中小型企业提供云端的薪资和人力资源软件。它帮这些企业处理发薪、报税和员工记录。
Earns from营收来源 recurring per-client fees, plus interest on client money it holds briefly before paying it out.按客户数量收取的经常性费用，再加上在收到薪资款项到实际发放之间短暂持有这笔钱期间赚取的利息。
Read the full description查看完整介绍
Paylocity Holding Corporation provides cloud-based human capital management, payroll software, and spend management solutions for the workforce in the United States. The company offers payroll solutions comprising payroll and tax services, global payroll, on-demand payment, and garnishments; human resources (HR) solutions consisting of human resources, employee self-service, workflows and documents, HR compliance dashboard, and HR edge; time and attendance, scheduling, and time collection; time and labor solutions, including time and attendance, scheduling, and time collection; and talent solutions, such as recruiting, onboarding, market pay, learning, performance, and compensation. It also provides benefits solutions comprising benefit enrollment and updates, and third-party administrative solutions; employee experiences consisting of community, video, employee voice, recognition and rewards, modern workforce index, data insights, and reporting; and Paylocity for finance solutions, such as headcount planning, expense management, accounts payable automation, corporate cards, and guided procurement. In addition, the company offers implementation and training, client services, and tax and regulatory services. It serves for-profit and non-profit organizations across industries, including business services, financial services, healthcare, manufacturing, restaurants, retail, technology, and others. The company also sells its products through sales representatives. Paylocity Holding Corporation was founded in 1997 and is headquartered in Schaumburg, Illinois.
What the company sells公司卖什么
The payroll and HR software. FY2025 revenue was $1.5 billion, up 15%.工资和人力资源软件。2025财年收入为$1.5 billion，增长15%。
- Payroll工资发放
- Processes pay and files payroll taxes.处理发薪并申报工资税。
- HR and workforce management人力资源和员工管理
- Staff records, time and attendance, and scheduling.员工档案、考勤打卡和排班。
- Talent and benefits招聘与福利
- Hiring, onboarding, performance, and benefits administration.招人、入职、绩效和福利管理。
Plus:此外： Interest on client funds客户资金利息 (8%) — Interest earned on money held between collecting payroll and paying it out在收取工资款到实际发放之间，代持这笔钱期间赚到的利息.
Company facts公司资料
- Founded成立时间
- 1997
- Headquarters总部
- Schaumburg, Illinois
- Employees员工人数
- 6,700
- Industry行业
- Software - Application
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
50% FCF CAGR. Add $88-96. Trim $150+.
自由现金流复合增长率 50%。$88-96 加仓。$150 以上减仓。
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 22%
- Revenue growth营收增长
- +10%
Competitors竞争对手
Why customers stay客户为什么留下
Payroll and tax data sit at the operational core of a business, so removing Paylocity risks pay errors and compliance failures. Recurring revenue grew 15% on only 7% more clients, which shows it sells more to the customers it already has.薪资和税务数据处在一家企业运营的核心位置，所以撤掉 Paylocity 会带来发薪出错和违规的风险。经常性收入增长了 15%，而客户数只增加了 7%，这说明它在向现有客户卖出更多东西。