National Bank of Canada FI Sells Shares of Paylocity Holding Co.
January 3, 2024
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The National Bank of Canada Financial Institution (FI) has recently sold shares of Paylocity Holding ($NASDAQ:PCTY) Co., a technology provider of cloud-based payroll and human capital management (HCM) software solutions. Headquartered in Arlington Heights, Illinois, Paylocity provides its clients with an integrated suite of solutions including payroll, automated time tracking, and employee engagement and performance management tools. Their solutions enable businesses to better manage their workforce, enhance employee engagement, drive operational efficiency, and improve compliance with payroll and labor regulations.
Additionally, Paylocity’s insights empower businesses to make strategic decisions by giving them data-driven insights into their workforce. Paylocity is well positioned to capitalize on the long-term growth in the cloud-based HCM market. The company has strong financials and is backed by a number of institutional investors such as Goldman Sachs, J.P. Morgan, and BlackRock. The proceeds from the sale of the National Bank of Canada FI shares of Paylocity will help the company continue to expand its solutions and customer base.
Price History
On Tuesday, National Bank of Canada Financial Inc. announced that it had sold its shares of Paylocity Holding Co. The stock opened the day at $163.9 and closed at $162.8, down 1.2% from the previous closing price of $164.8. This sale marks an important milestone in the evolution of Paylocity’s future as it continues to innovate and expand its business lines. With this sale, National Bank of Canada Financial Inc. has taken the first step in unlocking Paylocity’s tremendous potential. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Paylocity Holding. More…
| Total Revenues | Net Income | Net Margin |
| 1.24k | 144.99 | 11.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Paylocity Holding. More…
| Operations | Investing | Financing |
| 328.48 | -140.09 | 206.16 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Paylocity Holding. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.65k | 2.75k | 15.89 |
Key Ratios Snapshot
Some of the financial key ratios for Paylocity Holding are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 29.5% | 43.8% | 15.3% |
| FCF Margin | ROE | ROA |
| 20.8% | 13.6% | 3.2% |
Analysis
At GoodWhale, we have conducted an in-depth analysis of PAYLOCITY HOLDING‘s financials. According to our Star Chart, PAYLOCITY HOLDING has been classified as a ‘gorilla’, a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. This makes PAYLOCITY HOLDING an attractive opportunity for both institutional and individual investors. In addition to being a strong growth play, PAYLOCITY HOLDING also has a high health score of 8/10 indicating it is in good financial health and capable of sustaining future operations in times of crisis. Furthermore, PAYLOCITY HOLDING is strong in growth and profitability, medium in asset, and weak in dividend. All these factors indicate that PAYLOCITY HOLDING is a lucrative opportunity for investors who are looking for solid returns with minimal capital outlay. More…
Peers
Paylocity Holding Corp is a company that provides cloud-based software solutions for payroll and human capital management. The company competes with other companies in the same industry, such as Paycom Software Inc, Xero Ltd, and Paycor HCM Inc.
– Paycom Software Inc ($NYSE:PAYC)
Paycom Software Inc is a publicly traded company with a market cap of 17.93B as of 2022. The company has a Return on Equity of 19.62%. Paycom Software Inc is a provider of cloud-based human capital management software. The company’s software is used by businesses to manage payroll, benefits, and human resources.
– Xero Ltd ($ASX:XRO)
As of 2022, Xero Ltd has a market cap of 10.98B and a Return on Equity of 2.38%. The company provides an online accounting software for small businesses and their advisors. The software is designed to save businesses time and money by automating tasks such as bookkeeping, invoicing, and tax preparation.
– Paycor HCM Inc ($NASDAQ:PYCR)
Paycor HCM Inc is a provider of human capital management solutions. The company has a market cap of 4.91B as of 2022 and a Return on Equity of -6.69%. Paycor HCM Inc provides solutions for payroll, benefits, talent, and time and labor management. The company offers its solutions to businesses of all sizes in the United States.
Summary
Paylocity Holding Co. (PCTY) is a provider of payroll and human capital management software for medium-sized businesses. Recently, National Bank of Canada FI sold off a portion of their PCTY shares. As an investor, this news should be taken carefully as it is important to understand the underlying reasons for the sale. The company has grown steadily over the past years, increasing earnings and revenues, with the stock price reflecting the strong performance. Taking into consideration the diversified nature of their customer base and financial strength, PCTY is well positioned to continue its growth and success.
Analyzing the financial metrics for PCTY, investors should focus on strong earnings growth, low debt levels, and efficient operating costs. Moreover, keeping an eye on macroeconomic factors such as GDP growth, consumer confidence and economic sentiment will be useful in making investment decisions. In conclusion, investors should take the time to understand PCTY’s fundamentals before investing, since it is always important to consider the risks associated with any investment.
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