Paylocity Holding Corporation (PCTY) is a user-friendly product suite that assists firms in automating and streamlining HR and payroll procedures, attracting and retaining personnel, and building culture.
The company recently reported its third-quarter earnings results. Its sales grew 32% year over year to $246 million. The rise in top-line revenue may be attributed to a 32% increase in recurring revenues (99.6% of total sales), which reached $245 million. However, interest income on funds held for clients fell 10.5% to $1 million.
