Overview
Paylocity's (PCTY) strong finish to its recent fiscal year has instilled the ongoing confidence in the company’s execution ability. Paylocity was able to finish with a 21% increase in client base at a new record-high of 20,200 compared to 16,700 last year. The company also achieved a 25.4% YoY revenue growth in Q4, which represents the 10th consecutive quarter with mid-20s YoY revenue growth. The popularity of its HCM product, such as onboarding, recruiting, and performance management, has turned out to be one of the major drivers for the outperformance.
Given the