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Paylocity Holding Corp (PCTY) stock

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NASDAQ: PCTY Nasdaq Application Software Next results ~November 5, 2026

B Fundamentals grade

Paylocity Holding Corp is a US-listed company in the application software industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$170

Cash-flow model

Base case. Range ~$130–$220 across our lower- and higher-growth cases (7.9%–17.9% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 2% above our base value.

Price used: $174.09, November 2, 2026

Paylocity Holding Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 110 sales by directors and officers, last 12 monthsInsider trades
  • Funds265 adding, 211 cuttingOf 65 active managers that changed their stake, 29 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Paylocity Holding files

Where Paylocity stands after its latest 10-K

Revenue for the twelve months to June 2026 was $1.77bn, up 11.0% on a year earlier, about the same pace as a quarter earlier. That puts it 13 of 14 for growth among the prepackaged software companies we cover. Free-cash-flow margin rose to 28.1% from 25.4% a year earlier. Operating margin widened to 21.8% from 19.1%. The diluted share count is down 3.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 6 of our 6 financial-health checks. Our cash-flow model value is $181 a share, against a share price of $170. At that price, our model says the market is pricing in about 11.8% a year of cash-flow growth for five years, slower than the 22.7% a year revenue growth it has delivered.

Source: 10-K filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Paylocity Holding Corp's trailing-twelve-month revenue grew 11.0% year on year, with a free-cash-flow margin of 28.1%. Where it stands out: days sales outstanding of 10 days ranks 9 of 162 application software companies we cover.

Our discounted-cash-flow model values the business at ~$170 per share in the base case (~$130–$220 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 11.0% (-0.3pp vs the prior quarter), the 13th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Strong cash generation. 28.1% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Shrinking share count. Diluted shares fell 3.1% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.2bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Insiders selling. 9 insiders sold $45M of stock over the past 365 days and none bought (99% under pre-set trading plans).

Latest results: FY2026 Q4

Filed August 5, 2026
Earnings per share
$1.84 against an average estimate of $1.61: beat by 14.2%
Revenue
$445m, up 11.0% on a year earlier
Share reaction
+5.8% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
recurring and other revenue $414m to $419m (First Quarter 2027); total revenue $439.5m to $444.5m (First Quarter 2027)
Next report
November 5, 2026; average EPS estimate $1.89

Paylocity Holding's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.9%
  • 1 week-1.3%
  • 1 month+20.5%
  • This year+14.2%
  • 1 year+23.2%
  • 5 years-41.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.8B
Operating margin
21.8%
Net margin
15.2%
EPS (TTM, diluted)
$4.92

Growth

Revenue growth
+11.0%
Change in growth rate
−0.3 pts
Share count change
−3.1%

Cash

Free cash flow (TTM)
$497M
FCF margin
28.1%
Stock pay % of revenue
7.8%

Earnings

Last results
August 4, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Agreement
  7. Leadership
  8. Results
  9. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Paylocity Holding Corp valuation models and calculator

What the price is pricing in

The share price implies about 11.3% a year of cash-flow growth for five years.That is slower than the 22.7% a year revenue growth Paylocity Holding has delivered.

  • Priced in11.3%
  • Last 12 months11.0%
  • 3 years a year14.7%
  • 5 years a year22.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($169.08, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$170
Price used
$169.08close November 3, 2026
Implied change
▲ +1%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Paylocity Holding Corp's free cash flow after stock-based pay with after-tax interest added back ($313M, FY2026 Q4 TTM), growing 8.3% and 11% in the next two years (forecasts, guidance and its record), then back to 12.9% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$130–~$220 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Paylocity Holding Corp's free cash flow after stock-based pay ( $313M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Paylocity Holding Corp as an operating company, with every model that fits that kind of business. Cost of equity 9.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.94 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$170 ~$130–$220 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$130 ~$110–$220 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$83 ~$57–$120 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$63 ~$54–$75 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$120 ~$63–$170 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Paylocity Holding Corp with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +10%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $88$119$159$212$280$370
8.5% $68$90$119$157$206$269
10% $56$73$96$125$162$210

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$43.20$45.18$58.86$93.82$145.89$190.80$174.42$184.53$131.85$181.19$104.53
Market value$2.2bn$2.4bn$3.2bn$5.2bn$8.1bn$10.7bn$9.8bn$10.4bn$7.5bn$10.2bn$5.7bn
+ Net debt (− = net cash)−$86m−$103m−$137m−$132m−$151m−$102m−$140m−$289m−$402m−$236m−$191m
Enterprise value$2.1bn$2.3bn$3.1bn$5.1bn$8.0bn$10.6bn$9.7bn$10.2bn$7.1bn$10.0bn$5.5bn
Multiples
Price / sales 9.5x8.1x8.6x11.1x14.5x16.9x11.5x8.9x5.4x6.4x3.2x
Price / earnings —n/m83.7x96.6x126.3x151.7x108.5x74.2x36.3x45.1x21.2x
Price / free cash flow 130.1x60.1x42.4x50.1x84.7x93.1x71.9x40.0x20.5x25.3x11.5x
EV / EBITDA n/m82.6x67.0x55.8x76.8x105.3x72.0x47.0x21.1x24.8x11.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

46 /100

Moderate moat

How hard Paylocity Holding's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Cash operating profit has been a median 7.3% of total assets over 10 years.

  • Pricing power 19 / 20

    Gross margin has been a median 67.3%, moving by 3.5 percentage points (standard deviation) across 10 years.

  • Durability 6 / 20

    Operating margin has been a median 11.9%; its worst year was 2.4%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 21.2% of revenue.

  • Discipline 9 / 20

    The diluted share count fell 2.7% over five years; stock-based pay has been a median 8.9% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (61 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $442m and EPS of $1.89 (range $1.75 to $2.06) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $8.72 +5% $1.9bn +7%
Next $9.68 +11% $2.0bn +8%

Next year's EPS estimate has moved +0.6% in 90 days, across 19 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.4% on 90 days ago. In the last 30 days, 1 analyst raised Paylocity Holding Corp's forecast and 0 cut it.

Consensus EPS forecast Paylocity Holding Corp, last 90 days
$8.50 $9.00 $9.50 $10.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $8.69 Current fiscal year, 60 days ago: $8.72 Current fiscal year, 30 days ago: $8.72 Current fiscal year, 7 days ago: $8.74 Current fiscal year, Now: $8.72 $8.72 Next fiscal year, 90 days ago: $9.62 Next fiscal year, 60 days ago: $9.69 Next fiscal year, 30 days ago: $9.69 Next fiscal year, 7 days ago: $9.72 Next fiscal year, Now: $9.68 $9.68

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $8.69$9.62
60 days ago $8.72$9.69
30 days ago $8.72$9.69
7 days ago $8.74$9.72
Now $8.72$9.68

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.61 $1.84 +14.2%
Mar 2026 $2.58 $2.89 +12.0%
Dec 2025 $1.60 $1.85 +15.9%
Sept 2025 $1.57 $1.75 +11.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Total revenue Fiscal 2027 $1.88bn to $1.895bn New
    “Total revenue is expected to be in the range of $1.880 billion to $1.895 billion, which represents approximately 7% growth over fiscal 2026 total revenue.” source
  • Total revenue First Quarter 2027 $440m to $445m New
    “Total revenue is expected to be in the range of $439.5 million to $444.5 million, which represents approximately 8% growth over fiscal 2026 first quarter total revenue.” source
  • Recurring and other revenue Fiscal 2027 $1.777bn to $1.792bn New
    “Recurring and other revenue is expected to be in the range of $1.777 billion to $1.792 billion, which represents approximately 8% growth over fiscal 2026 recurring and other revenue.” source
  • Adjusted EBITDA Fiscal 2027 $690m to $700m Non-GAAP New
    “Adjusted EBITDA, a non-GAAP measure, is expected to be in the range of $690.0 million to $700.0 million.” source
  • Adjusted EBITDA excluding interest income on funds held for clients Fiscal 2027 $587m to $597m Non-GAAP New
    “Adjusted EBITDA excluding interest income on funds held for clients, a non-GAAP measure, is expected to be in the range of $587.0 million to $597.0 million.” source
  • Recurring and other revenue First Quarter 2027 $414m to $419m New
    “Recurring and other revenue is expected to be in the range of $414.0 million to $419.0 million, which represents approximately 10% growth over fiscal 2026 first quarter recurring and other revenue.” source
Show 2 more items
  • Adjusted EBITDA First Quarter 2027 $152m to $156m Non-GAAP New
    “Adjusted EBITDA, a non-GAAP measure, is expected to be in the range of $152.0 million to $156.0 million.” source
  • Adjusted EBITDA excluding interest income on funds held for clients First Quarter 2027 $127m to $131m Non-GAAP New
    “Adjusted EBITDA excluding interest income on funds held for clients, a non-GAAP measure, is expected to be in the range of $126.5 million to $130.5 million.” source

How earlier guidance turned out

  • Total revenue, fiscal year 2026 guided $1.755bn to $1.76bn Above range: $1.771326bn
  • Total revenue, fourth quarter 2026 guided $428m to $433m Above range: $445m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Paylocity Holding Corp's revenue by +8.3% next year and +11.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.8%, weight 56%) , management guidance (+6.6%, weight 19%) and the company's own record (+12.9%, weight 25%) . How the weights are set.

Analyst recommendations

21 analysts, Oct 2026
Buy1886%
Hold210%
Sell15%

Monthly trend

  1. Oct 2026315221
  2. Sep 2026315321
  3. Aug 2026314320
  4. Jul 2026314320

Counts of recommendations published by analysts covering Paylocity Holding Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.2%
of tradable shares
Days to cover
4.6
at average volume
Short interest, 1 month
+9%
to October 15, 2026
Held by institutions
91%
of shares
Held by insiders
20.0%
of shares
Employees
6,900
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +23.2%

$141.27 on October 31, 2025 to $174.09

ThenNowEffect
Revenue (last 12 months) $1.6bn $1.8bn +11.0%
Net margin 14.2% 15.2% +7.0%
P/E multiple 35.2x 35.3x +0.5%
Share count 57m 55m +3.2%

Biggest factor: revenue.

Last 3 years +19.8%

$145.26 on November 3, 2023 to $174.09

ThenNowEffect
Revenue (last 12 months) $1.2bn $1.8bn +50.8%
Net margin 12.0% 15.2% +27.0%
P/E multiple 58.4x 35.3x −39.5%
Share count 57m 55m +3.3%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PCTY+15%−18%−15%+21%−24%+14%
Industry peers (median)−8%−50%+19%+2%−20%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PCTY58%33%42%58%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PCTY−29%−35%−39%−26%−37%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 69% from November 1, 2021 to April 10, 2026. Getting back needed a 222% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$95.10 – $177.67
From 52-week high
−2.0%
vs 50-day average
+12.5%
vs 200-day average
+37.6%
Volatility (1 year)
42%
Beta vs S&P 500
-0.18

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.4%
After a week
9 up, 3 down
typical move ±7.4%
After a month
6 up, 6 down
typical move ±6.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +5.8% +1.6% +3.8% +10.6%
May 7, 2026 +8.2% +0.5% +1.4% +9.3%
February 5, 2026 −6.9% +0.6% −17.7% −6.9%
November 4, 2025 +3.3% −0.8% +5.7% +3.9%
August 5, 2025 +1.7% +0.3% −7.0% −4.4%
May 1, 2025 −2.5% +2.2% +0.7% −0.8%
February 6, 2025 −1.6% −0.6% +4.0% −9.8%
October 30, 2024 +4.9% −2.3% +21.5% +17.9%
August 1, 2024 +5.3% −3.3% +4.5% +7.5%
May 2, 2024 +12.3% +2.2% +9.7% −7.4%
February 8, 2024 −1.3% +0.6% +4.0% +0.4%
November 2, 2023 −11.5% +2.8% −9.2% −3.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Paylocity Holding Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Paylocity Holding Corp in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Paylocity Holding Corp
$1.2B $1.4B $1.6B $1.8B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $1.2B Revenue (TTM), FY24 Q2: $1.3B Revenue (TTM), FY24 Q3: $1.4B Revenue (TTM), FY24 Q4: $1.4B Revenue (TTM), FY25 Q1: $1.4B Revenue (TTM), FY25 Q2: $1.5B Revenue (TTM), FY25 Q3: $1.6B Revenue (TTM), FY25 Q4: $1.6B Revenue (TTM), FY26 Q1: $1.6B Revenue (TTM), FY26 Q2: $1.7B Revenue (TTM), FY26 Q3: $1.7B Revenue (TTM), FY26 Q4: $1.8B $1.8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $1.2B
FY24 Q2 $1.3B
FY24 Q3 $1.4B
FY24 Q4 $1.4B
FY25 Q1 $1.4B
FY25 Q2 $1.5B
FY25 Q3 $1.6B
FY25 Q4 $1.6B
FY26 Q1 $1.6B
FY26 Q2 $1.7B
FY26 Q3 $1.7B
FY26 Q4 $1.8B
Revenue growth, TTM YoY Paylocity Holding Corp
0% 10% 20% 30% 40% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 34.0% Revenue growth, TTM YoY, FY24 Q2: 29.1% Revenue growth, TTM YoY, FY24 Q3: 23.6% Revenue growth, TTM YoY, FY24 Q4: 19.4% Revenue growth, TTM YoY, FY25 Q1: 16.9% Revenue growth, TTM YoY, FY25 Q2: 16.0% Revenue growth, TTM YoY, FY25 Q3: 14.6% Revenue growth, TTM YoY, FY25 Q4: 13.7% Revenue growth, TTM YoY, FY26 Q1: 13.3% Revenue growth, TTM YoY, FY26 Q2: 12.1% Revenue growth, TTM YoY, FY26 Q3: 11.3% Revenue growth, TTM YoY, FY26 Q4: 11.0% 11.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 34.0%
FY24 Q2 29.1%
FY24 Q3 23.6%
FY24 Q4 19.4%
FY25 Q1 16.9%
FY25 Q2 16.0%
FY25 Q3 14.6%
FY25 Q4 13.7%
FY26 Q1 13.3%
FY26 Q2 12.1%
FY26 Q3 11.3%
FY26 Q4 11.0%
Operating margin (TTM) Paylocity Holding Corp
14% 16% 18% 20% 22% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 15.3% Operating margin (TTM), FY24 Q2: 17.1% Operating margin (TTM), FY24 Q3: 18.2% Operating margin (TTM), FY24 Q4: 18.5% Operating margin (TTM), FY25 Q1: 19.5% Operating margin (TTM), FY25 Q2: 18.7% Operating margin (TTM), FY25 Q3: 19.4% Operating margin (TTM), FY25 Q4: 19.1% Operating margin (TTM), FY26 Q1: 19.1% Operating margin (TTM), FY26 Q2: 20.1% Operating margin (TTM), FY26 Q3: 21.3% Operating margin (TTM), FY26 Q4: 21.8% 21.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 15.3%
FY24 Q2 17.1%
FY24 Q3 18.2%
FY24 Q4 18.5%
FY25 Q1 19.5%
FY25 Q2 18.7%
FY25 Q3 19.4%
FY25 Q4 19.1%
FY26 Q1 19.1%
FY26 Q2 20.1%
FY26 Q3 21.3%
FY26 Q4 21.8%
FCF margin (TTM) Paylocity Holding Corp
24% 25% 26% 27% 28% 29% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 24.7% FCF margin (TTM), FY24 Q2: 24.7% FCF margin (TTM), FY24 Q3: 26.3% FCF margin (TTM), FY24 Q4: 26.1% FCF margin (TTM), FY25 Q1: 27.4% FCF margin (TTM), FY25 Q2: 25.1% FCF margin (TTM), FY25 Q3: 25.6% FCF margin (TTM), FY25 Q4: 25.4% FCF margin (TTM), FY26 Q1: 24.3% FCF margin (TTM), FY26 Q2: 27.5% FCF margin (TTM), FY26 Q3: 28.2% FCF margin (TTM), FY26 Q4: 28.1% 28.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 24.7%
FY24 Q2 24.7%
FY24 Q3 26.3%
FY24 Q4 26.1%
FY25 Q1 27.4%
FY25 Q2 25.1%
FY25 Q3 25.6%
FY25 Q4 25.4%
FY26 Q1 24.3%
FY26 Q2 27.5%
FY26 Q3 28.2%
FY26 Q4 28.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Paylocity Holding took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $1.8B
  2. Cost of revenue $546M · 30.8%
  3. Gross profit $1.2B · 69.2%
  4. Research and development $221M · 12.5%
  5. Selling, general and admin $618M · 34.9%
  6. Operating income $386M · 21.8%
  7. Income tax $118M · 6.6%
  8. Net income $270M · 15.2%

Shares of revenue. Source: Paylocity Holding's 10-K for FY2026, as filed with the SEC.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 55 77 109 153 231 300 378 468 561 636 853 1,175 1,403 1,595 1,771
Gross profit 26 38 54 82 133 176 228 314 379 416 566 808 961 1,097 1,226
EBITDA 7 6 −1 −5 10 28 46 91 104 101 135 216 337 404 498
Operating income 3 0 −7 −14 −4 7 16 56 66 58 85 155 260 304 386
Net income 2 1 −7 −14 −4 7 39 54 64 71 91 141 207 227 270
Diluted EPS $0.02 −$0.07 −$0.26 −$0.28 −$0.08 $0.12 $0.70 $0.97 $1.15 $1.26 $1.61 $2.49 $3.63 $4.02 $4.92
Growth (year on year)
Revenue — +40.3% +40.6% +40.5% +51.1% +30.0% +25.8% +23.9% +20.0% +13.2% +34.1% +37.8% +19.4% +13.7% +11.0%
EBITDA — −24.2% −112.2% — — +174.4% +62.9% +96.7% +14.6% −2.9% +33.5% +60.1% +55.9% +20.0% +23.3%
Operating income — −98.9% — — — — +118.6% +252.5% +17.7% −12.3% +45.7% +83.3% +67.8% +16.9% +27.0%
Net income — −63.4% — — — — +474.5% +39.4% +19.8% +9.9% +28.2% +55.1% +46.8% +9.8% +18.8%
Diluted EPS — −450.0% — — — — +483.3% +38.6% +18.6% +9.6% +27.8% +54.7% +45.8% +10.7% +22.4%
Margins
Gross margin 47.2% 48.7% 49.3% 53.6% 57.5% 58.7% 60.5% 67.1% 67.6% 65.5% 66.3% 68.8% 68.5% 68.8% 69.2%
EBITDA margin 13.4% 7.2% −0.6% −3.5% 4.5% 9.4% 12.2% 19.4% 18.5% 15.9% 15.8% 18.4% 24.0% 25.3% 28.1%
Operating margin 5.0% 0.0% −6.5% −9.1% −1.5% 2.4% 4.2% 12.0% 11.8% 9.1% 9.9% 13.2% 18.5% 19.1% 21.8%
Net margin 3.1% 0.8% −6.5% −9.2% −1.7% 2.2% 10.2% 11.5% 11.5% 11.1% 10.6% 12.0% 14.7% 14.2% 15.2%
Free-cash-flow margin 9.3% 2.9% 0.5% 1.4% 7.3% 13.5% 20.2% 22.2% 17.1% 18.2% 16.1% 22.2% 26.1% 25.4% 28.1%
Cash flow
Cash from operations 9 6 7 11 33 62 98 115 113 125 155 283 385 418 533
Capital spending 3 4 7 9 16 21 22 11 17 9 18 22 18 13 36
Free cash flow 5 2 1 2 17 41 76 104 96 115 137 261 367 405 497
Stock-based pay 0 1 5 13 18 27 30 39 47 63 96 147 146 143 139
Free cash flow after stock pay 5 2 −4 −11 −1 14 46 65 49 52 41 114 221 262 358
Balance sheet
Cash 9 8 79 81 86 103 137 132 251 202 140 289 402 398 272
Total debt 0 2 — 0 0 0 0 0 100 100 0 0 0 163 81
Net debt (negative = net cash) −9 −6 −79 −81 −86 −103 −137 −132 −151 −102 −140 −289 −402 −236 −191
Diluted shares 44m 32m 37m 50m 51m 54m 55m 55m 56m 56m 56m 57m 57m 57m 55m
Returned to shareholders
Buybacks 27 0 — — — — — 35 — — 0 0 150 150 398
Total returned 27 0 — — — — — 35 — — 0 0 150 150 398

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 6 checks passed · June 30, 2026
What it owns · $4.9bn
Short-term assets $3.7bnLonger-term assets $1.2bn
What it owes, and who funded it · $4.9bn
Short-term liabilities $3.4bnLonger-term liabilities $243mShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $3.7bn of assets due within a year against $3.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.7bn short-term assets against $243m of longer-dated liabilities.
  • More cash than debt $272m of cash against $81m of debt.
  • Debt below 40% of shareholders' equity Debt is 7% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $533m of operating cash flow against $81m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Paylocity Holding Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$398M
Returned to shareholders
80%
of free cash flow
Buybacks, last 3 fiscal years
$698M
Diluted share count
−3.1%
year over year
Total shareholder yield
4.3%
dividends 0.0% + buybacks 4.3% of market value
R&D spending
12.5%
of revenue
Days sales outstanding
10 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated PCTY PEGA ESTC YMM ACIW PATH Median
Revenue, last 12 months $1.8bn $1.7bn $1.8bn $1.7bn $1.8bn $1.7bn $482m
Revenue growth, last 12 months 11.0% 0.9% 16.2% 11.3% 7.0% 15.0% 12.0%
Revenue growth, 3-year average 14.7% 8.9% 17.4% — 9.9% 14.4% 11.1%
Revenue growth, latest quarter 11.0% 3.1% 15.1% — 7.3% 13.4% 11.9%
Gross margin 69.2% 75.9% 75.5% 63.0% 49.1% 82.6% 69.2%
Operating margin 21.8% 9.9% −2.6% 33.2% 18.6% 8.9% 1.1%
Operating margin, 3-year average 19.8% 12.2% −4.8% — 19.3% −2.7% −0.8%
Net margin 15.2% 16.9% 20.8% 35.7% 12.4% 21.0% 2.1%
Cash from operations / revenue 30.1% 26.5% 19.6% 37.0% 18.1% 21.7% 18.2%
Free-cash-flow margin 28.1% 25.3% 19.4% 36.0% 17.1% 21.1% 15.0%
Free-cash-flow margin, 3-year average 26.5% 24.0% 17.2% — 17.6% 21.8% 16.2%
Stock pay / revenue 7.8% 8.3% 16.8% 2.3% 4.3% 13.6% 9.3%
Change in share count −3.1% 4.1% 2.2% 0.1% −3.1% −2.5% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 11.0% 12.0% 101 of 184
Change in growth rate Growth -0.3pp +0.2pp 108 of 184
Gross margin Profitability 69.2% 69.8% 82 of 160
Operating margin Profitability 21.8% 1.1% 27 of 181
Net margin Profitability 15.2% 2.1% 44 of 185
Free-cash-flow margin Cash generation 28.1% 15.2% 37 of 180
Stock pay as % of revenue Cash generation 7.8% 9.3% 74 of 177
Long-term debt as % of assets Balance sheet 1.7% 16.9% 21 of 98
Change in share count Balance sheet -3.1% 1.7% 30 of 163
Days sales outstanding Balance sheet 10 days 57 days 9 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Products and services
Line of business Revenue YoY
Recurring Fees $1.6B ▲ 12.6%
Nonrecurring Fees $63.9M ▲ 3.1%

These categories overlap or exclude eliminations, so shares aren't shown.

From Paylocity Holding Corp's 10-K filed August 5, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.9B
Institutions reporting
464
Shares held vs prior quarter
▲ 3.2%
Positions opened / closed
76 / 56

Top buyers and sellers, Q2 2026: 265 institutions bought and 211 sold ; the biggest buyer was AQR Capital Management LLC (+1.2M shares) and the biggest seller T. Rowe Price Investment Management, Inc (−935K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $430M 4.1M 8.8% ▼ 6.2%
T. Rowe Price Investment Management, Inc. $325M 3.1M 6.7% ▼ 23.1%
AQR Capital Management LLC $246M 2.4M 5.0% ▲ 107.2%
Vanguard Portfolio Management LLC $229M 2.2M 4.7% ▲ 0.3%
Vanguard Capital Management LLC $203M 1.9M 4.2% ▼ 0.4%
Citadel Advisors LLC $157M 1.5M 3.2% ▼ 13.1%
Morgan Stanley $149M 1.4M 3.1% ▲ 6.6%
State Street Corp $146M 1.4M 3.0% ▲ 4.2%
UBS Group AG $136M 1.3M 2.8% ▲ 195.6%
Geode Capital Management, LLC $134M 1.3M 2.7% ▼ 1.0%
Two Sigma Investments, LP $119M 1.1M 2.4% ▲ 0.5%
Quantinno Capital Management LP $110M 1.1M 2.3% ▲ 110.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Paylocity Holding Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $44.9M 110 trades by 9 insiders · 99% under pre-set plans
Net ▼ $44.9M net selling
Insider Date Trade Shares Price Value
Sarowitz Steven I Director October 28, 2026 Sell pre-set plan 100 $170.23 $17,023
Sarowitz Steven I Director October 27, 2026 Sell pre-set plan 100 $175.22 $17,522
Sarowitz Steven I Director October 27, 2026 Sell pre-set plan 500 $173.54 $86,770
Sarowitz Steven I Director October 27, 2026 Sell pre-set plan 1,200 $172.50 $207,000
Sarowitz Steven I Director October 27, 2026 Sell pre-set plan 2,600 $171.69 $446,394
Sarowitz Steven I Director October 27, 2026 Sell pre-set plan 4,500 $170.44 $766,980
Sarowitz Steven I Director October 26, 2026 Sell pre-set plan 1,000 $177.81 $177,810
Sarowitz Steven I Director October 26, 2026 Sell pre-set plan 5,300 $176.50 $935,450
Sarowitz Steven I Director October 26, 2026 Sell pre-set plan 5,117 $175.75 $899,313
Sarowitz Steven I Director October 26, 2026 Sell pre-set plan 2,283 $174.90 $399,297
Sarowitz Steven I Director October 23, 2026 Sell pre-set plan 2,448 $177.27 $433,957
Sarowitz Steven I Director October 23, 2026 Sell pre-set plan 10,398 $176.78 $1.8M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 12 trades and filings

No trades in Paylocity Holding Corp disclosed in the last 12 months; 12 earlier trades on record.

  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded January 13, 2025, filed February 13, 2025
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded October 11, 2022, filed November 10, 2022
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded September 21, 2022, filed October 16, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 7, 2026
  • February 5, 2026
  • November 4, 2025
  • August 5, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Paylocity Holding Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Paylocity Holding Corp in brief

What does Paylocity Holding Corp do?
Paylocity Holding Corp is a US-listed company in the application software industry. Its financial year ends in June.
What is Paylocity Holding Corp's stock ticker?
Paylocity Holding Corp trades under the ticker PCTY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Paylocity Holding Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Paylocity Holding Corp reported revenue of $1.8B, 11.0% higher than a year earlier, according to its SEC filings.
What is Paylocity Holding Corp's free cash flow?
Paylocity Holding Corp's free-cash-flow margin is 28.1% of revenue over the trailing twelve months, ranking 37 of the 180 application software companies we cover.
What is Paylocity Holding Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Paylocity Holding Corp's free cash flow after stock-based pay gives ~$170 per share in the base case, and ~$130–$220 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Paylocity Holding Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., T. Rowe Price Investment Management, Inc. and AQR Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Paylocity Holding Corp buying back stock, and does it pay a dividend?
Paylocity Holding Corp spent $398M on share repurchases over the trailing twelve months, and its diluted share count fell 3.1% over the year.
What is Paylocity Holding Corp's market cap?
On June 30, 2026, Paylocity Holding Corp's market capitalisation was about $5.7B, with a price-to-earnings ratio of 21.2 and net debt of -$191M. Market figures come from third-party market data and may be delayed.
How much debt does Paylocity Holding Corp have?
Paylocity Holding Corp's debt-to-equity ratio is 6.7%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Paylocity Holding Corp's competitors?
In our Application Software peer group, the companies closest to Paylocity Holding Corp are Pegasystems Inc, Elastic N.V., Full Truck Alliance Co. Ltd., ACI Worldwide, Inc. and Uipath, Inc. The side-by-side comparison below sets their revenue, margins and growth against Paylocity Holding Corp's.
Are insiders buying or selling Paylocity Holding Corp stock?
Over the last 12 months, Paylocity Holding Corp's directors and officers reported 0 open-market purchases and 110 sales on Form 4. The insider trading page charts every trade.
When is Paylocity Holding Corp's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Paylocity Holding Corp announces its own schedule.