$PCTY
Paylocity Holding Corp

2019 Q4 Form 10-Q Financial Statement

#000155837020000519 Filed on February 05, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4 2018 Q3
Revenue $132.4M $107.2M $100.5M
YoY Change 23.48% 24.66% 23.32%
Cost Of Revenue $45.42M $38.07M $35.94M
YoY Change 19.32% 3.45% 2.69%
Gross Profit $86.95M $69.13M $64.56M
YoY Change 25.77% 40.52% 38.84%
Gross Profit Margin 65.69% 64.49% 64.24%
Selling, General & Admin $65.43M $49.31M $49.39M
YoY Change 32.69% 23.89% 33.12%
% of Gross Profit 75.25% 71.32% 76.49%
Research & Development $15.41M $12.80M $11.40M
YoY Change 20.41% 37.61% 28.09%
% of Gross Profit 17.72% 18.51% 17.66%
Depreciation & Amortization $4.076M $3.588M $8.232M
YoY Change 13.6% -46.45% 22.87%
% of Gross Profit 4.69% 5.19% 12.75%
Operating Expenses $80.84M $62.11M $60.79M
YoY Change 30.16% 26.49% 32.14%
Operating Profit $6.114M $7.027M $3.776M
YoY Change -12.99% 6927.0% 655.2%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $285.0K $346.0K $269.0K
YoY Change -17.63% 246.0% 169.0%
Pretax Income $6.399M $7.373M $4.045M
YoY Change -13.21% 2357.67% 574.17%
Income Tax $932.0K $1.669M -$5.807M
% Of Pretax Income 14.56% 22.64% -143.56%
Net Earnings $5.467M $5.704M $9.852M
YoY Change -4.15% 1326.0% 1870.4%
Net Earnings / Revenue 4.13% 5.32% 9.8%
Basic Earnings Per Share $0.10 $0.11 $0.19
Diluted Earnings Per Share $0.10 $0.10 $0.18
COMMON SHARES
Basic Shares Outstanding 53.54M 52.84M 52.87M
Diluted Shares Outstanding 55.83M 55.08M 55.49M

Balance Sheet

Concept 2019 Q4 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $145.7M $104.0M $84.90M
YoY Change 40.14% -6.31% -12.83%
Cash & Equivalents $75.90M $84.11M $63.66M
Short-Term Investments $69.85M $19.90M $21.20M
Other Short-Term Assets $1.858B $1.271B $1.182B
YoY Change 46.15% -6.04% 23.75%
Inventory
Prepaid Expenses
Receivables $4.348M $21.90M $19.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.034B $1.397B $1.287B
YoY Change 45.6% -4.74% 21.9%
LONG-TERM ASSETS
Property, Plant & Equipment $71.09M $62.70M $61.80M
YoY Change 13.38% 29.55% 37.33%
Goodwill $9.590M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.00M $11.20M $12.70M
YoY Change 42.86% 918.18% 876.92%
Total Long-Term Assets $289.0M $183.1M $177.6M
YoY Change 57.85% 122.21% 125.1%
TOTAL ASSETS
Total Short-Term Assets $2.034B $1.397B $1.287B
Total Long-Term Assets $289.0M $183.1M $177.6M
Total Assets $2.323B $1.580B $1.464B
YoY Change 47.02% 2.01% 29.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.714M $3.500M $3.600M
YoY Change 6.11% 94.44% 89.47%
Accrued Expenses $62.85M $43.20M $35.70M
YoY Change 45.49% 48.45% 33.71%
Deferred Revenue $7.405M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.912B $1.306B $1.207B
YoY Change 46.45% -5.16% 24.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.360M $23.90M $24.10M
YoY Change -94.31% 68.31% 66.21%
Total Long-Term Liabilities $1.360M $23.90M $24.10M
YoY Change -94.31% 68.31% 66.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.912B $1.306B $1.207B
Total Long-Term Liabilities $1.360M $23.90M $24.10M
Total Liabilities $1.992B $1.329B $1.232B
YoY Change 49.83% -4.44% 24.96%
SHAREHOLDERS EQUITY
Retained Earnings $119.2M $45.99M
YoY Change
Common Stock $54.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $331.6M $250.9M $232.6M
YoY Change
Total Liabilities & Shareholders Equity $2.323B $1.580B $1.464B
YoY Change 47.02% 2.01% 29.08%

Cashflow Statement

Concept 2019 Q4 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $5.467M $5.704M $9.852M
YoY Change -4.15% 1326.0% 1870.4%
Depreciation, Depletion And Amortization $4.076M $3.588M $8.232M
YoY Change 13.6% -46.45% 22.87%
Cash From Operating Activities $27.80M $27.00M $7.344M
YoY Change 2.96% 3.85% -10.44%
INVESTING ACTIVITIES
Capital Expenditures -$9.800M -$9.600M $2.428M
YoY Change 2.08% 10.34% -137.94%
Acquisitions
YoY Change
Other Investing Activities -$110.7M -$9.000M -$19.40M
YoY Change 1130.0% -97.8% 2055.56%
Cash From Investing Activities -$120.5M -$18.60M -$26.79M
YoY Change 547.85% -95.54% 266.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $34.68M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 693.6M 92.10M -109.9M
YoY Change 653.09% -77.23% 1493.22%
NET CHANGE
Cash From Operating Activities 27.80M 27.00M 7.344M
Cash From Investing Activities -120.5M -18.60M -26.79M
Cash From Financing Activities 693.6M 92.10M -109.9M
Net Change In Cash 600.9M 100.5M -129.4M
YoY Change 497.91% 638.97% 2056.3%
FREE CASH FLOW
Cash From Operating Activities $27.80M $27.00M $7.344M
Capital Expenditures -$9.800M -$9.600M $2.428M
Free Cash Flow $37.60M $36.60M $4.916M
YoY Change 2.73% 5.48% -66.33%

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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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WeightedAverageNumberOfSharesOutstandingBasic
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CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53542000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52853000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53415000
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55081000
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55826000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55232000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55692000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
232626000
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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10795000
CY2018Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2824000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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NetSettlementForTaxesAndExercisePriceRelatedToEquityAwards
1413000
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20845000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
212824000
CY2018Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
52672000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13422000
CY2019Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2019Q4 pcty Net Settlement For Taxes And Exercise Price Related To Equity Awards
NetSettlementForTaxesAndExercisePriceRelatedToEquityAwards
978000
CY2019Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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pcty Net Settlement For Taxes And Exercise Price Related To Equity Awards
NetSettlementForTaxesAndExercisePriceRelatedToEquityAwards
21450000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
34991000
us-gaap Net Income Loss
NetIncomeLoss
15556000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
250937000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
26140000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
389000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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pcty Net Settlement For Taxes And Exercise Price Related To Equity Awards
NetSettlementForTaxesAndExercisePriceRelatedToEquityAwards
26231000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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us-gaap Net Income Loss
NetIncomeLoss
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
331564000
us-gaap Profit Loss
ProfitLoss
15556000
us-gaap Profit Loss
ProfitLoss
19373000
us-gaap Share Based Compensation
ShareBasedCompensation
19524000
us-gaap Share Based Compensation
ShareBasedCompensation
24832000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
112000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
63000
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AccretionAmortizationOfDiscountsAndPremiumsInvestments
893000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1052000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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-357000
us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Increase Decrease In Accounts Receivable
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pcty Increase Decrease In Capitalized Contract Cost
IncreaseDecreaseInCapitalizedContractCost
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pcty Increase Decrease In Capitalized Contract Cost
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Accounts Payable Trade
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147000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
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pcty Increase Decrease In Accrued Liabilities And Other Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherLiabilities
1027000
pcty Increase Decrease In Accrued Liabilities And Other Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherLiabilities
2231000
pcty Increase Decrease In Lease Allowance For Tenant Improvements
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-251000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
34296000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
36078000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
117053000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
253950000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
124780000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
9425000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7532000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12398000
pcty Payments For Improvements To Leased Property
PaymentsForImprovementsToLeasedProperty
251000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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pcty Increase Decrease In Client Funds Obligation
IncreaseDecreaseInClientFundsObligation
-33159000
pcty Increase Decrease In Client Funds Obligation
IncreaseDecreaseInClientFundsObligation
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
34991000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
85000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
2824000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
3961000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
18878000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
25954000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
675000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
428157000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
310528000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1210844000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1736671000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
252000
us-gaap Interest Paid Net
InterestPaidNet
53000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
357000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
19000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75900000
CY2018Q4 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1126730000
CY2019Q4 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1660771000
CY2018Q4 pcty Cash Cash Equivalents Funds Held For Clients Cash And Cash Equivalents
CashCashEquivalentsFundsHeldForClientsCashAndCashEquivalents
1210844000
CY2019Q4 pcty Cash Cash Equivalents Funds Held For Clients Cash And Cash Equivalents
CashCashEquivalentsFundsHeldForClientsCashAndCashEquivalents
1736671000
us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">(1)  Organization and Description of Business</b></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="white-space:pre-wrap;">Paylocity Holding Corporation (the “Company”) is a cloud-based provider of payroll and human capital management software solutions for medium-sized organizations. Services are provided in a Software-as-a-Service (“SaaS”) delivery model utilizing the Company’s cloud-based platform. The Company’s comprehensive product suite delivers a unified platform that allows clients to make strategic decisions in the areas of payroll, core HR, workforce management, talent and benefits. </span></p><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2018Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
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CY2019Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
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CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CapitalizedContractCostAmortizationPeriod
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pcty Period Of Term Arrangement
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CapitalizedContractCostAdditions
11411000
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CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2018Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6580000
CY2018Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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ContractWithCustomerLiabilityIncreaseDecrease
2995000
CY2019Q4 pcty Contract With Customer Liability Increase Decrease
ContractWithCustomerLiabilityIncreaseDecrease
3172000
pcty Contract With Customer Liability Increase Decrease
ContractWithCustomerLiabilityIncreaseDecrease
5513000
pcty Contract With Customer Liability Increase Decrease
ContractWithCustomerLiabilityIncreaseDecrease
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CY2018Q4 us-gaap Contract With Customer Liability Revenue Recognized
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CY2019Q4 us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3623000
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3623000
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CapitalizedContractCostAdditions
18900000
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CapitalizedContractCostAmortization
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CapitalizedContractCostNet
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CapitalizedContractCostNet
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pcty Capitalized Contract Cost Additions
CapitalizedContractCostAdditions
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us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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CapitalizedContractCostNet
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CY2019Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
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pcty Capitalized Contract Cost Additions
CapitalizedContractCostAdditions
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us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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CY2019Q4 us-gaap Capitalized Contract Cost Net
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CY2019Q4 us-gaap Revenue Remaining Performance Obligation
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CY2019Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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AllowanceForDoubtfulAccountsReceivable
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us-gaap Provision For Doubtful Accounts
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us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CapitalizedComputerSoftwareAccumulatedAmortization
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CY2019Q4 us-gaap Capitalized Computer Software Net
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2019Q4 us-gaap Depreciation
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us-gaap Depreciation
Depreciation
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us-gaap Depreciation
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CY2019Q2 pcty Funds Held For Clients Cash And Cash Equivalents Amortized Cost
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9626000
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CY2019Q4 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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2251000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2232000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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543000
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FundsHeldForClientsCashAndCashEquivalentsGrossUnrealizedLosses
6000
CY2019Q2 pcty Funds Held For Clients Cash And Cash Equivalents
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1293667000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
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us-gaap Variable Lease Cost
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CY2019Q4 us-gaap Lease Cost
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FundsHeldForClientsCashAndCashEquivalentsGrossUnrealizedLosses
1000
CY2019Q2 pcty Investments Accumulated Gross Unrealized Gain Before Tax
InvestmentsAccumulatedGrossUnrealizedGainBeforeTax
168000
CY2019Q2 pcty Investments Accumulated Gross Unrealized Loss Before Tax
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CY2019Q2 us-gaap Investments
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CashAndCashEquivalentsAmortizedCost
75902000
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CashAndCashEquivalentsGrossUnrealizedGains
1000
CY2019Q4 pcty Cash And Cash Equivalents Gross Unrealized Losses
CashAndCashEquivalentsGrossUnrealizedLosses
3000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75900000
CY2019Q4 pcty Funds Held For Clients Cash And Cash Equivalents Amortized Cost
FundsHeldForClientsCashAndCashEquivalentsAmortizedCost
1660771000
CY2019Q4 pcty Funds Held For Clients Cash And Cash Equivalents Gross Unrealized Gains
FundsHeldForClientsCashAndCashEquivalentsGrossUnrealizedGains
1000
CY2019Q4 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1660771000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
260886000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
138000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
26000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
260998000
CY2019Q4 pcty Investments Amortized Cost
InvestmentsAmortizedCost
1997559000
CY2019Q4 pcty Investments Accumulated Gross Unrealized Gain Before Tax
InvestmentsAccumulatedGrossUnrealizedGainBeforeTax
140000
CY2019Q4 pcty Investments Accumulated Gross Unrealized Loss Before Tax
InvestmentsAccumulatedGrossUnrealizedLossBeforeTax
30000
CY2019Q4 us-gaap Investments
Investments
1997669000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132476000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75900000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
29314000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
69849000
CY2019Q2 us-gaap Funds Held For Clients
FundsHeldForClients
1394469000
CY2019Q4 us-gaap Funds Held For Clients
FundsHeldForClients
1845294000
CY2019Q2 pcty Investments Classified As Long Term Prepaid Expenses And Other
InvestmentsClassifiedAsLongTermPrepaidExpensesAndOther
708000
CY2019Q4 pcty Investments Classified As Long Term Prepaid Expenses And Other
InvestmentsClassifiedAsLongTermPrepaidExpensesAndOther
6626000
CY2019Q2 us-gaap Investments
Investments
1556967000
CY2019Q4 us-gaap Investments
Investments
1997669000
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
4000
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
20941000
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
5000
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
6659000
CY2019Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
9000
CY2019Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
27600000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
25000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
131005000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
266000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
8840000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
232303000
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
131271000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
232346000
CY2019Q4 pcty Available For Sale Securities Debt Maturities One Year To Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesOneYearToTwoYearsAmortizedCost
28583000
CY2019Q4 pcty Available For Sale Securities Debt Maturities One Year To Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesOneYearToTwoYearsFairValue
28652000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
260886000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
260998000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132476000
CY2019Q2 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1293667000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
130824000
CY2019Q2 us-gaap Investments
Investments
1556967000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75900000
CY2019Q4 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1660771000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
260998000
CY2019Q4 us-gaap Investments
Investments
1997669000
CY2019Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
2374000
us-gaap Operating Lease Cost
OperatingLeaseCost
4637000
CY2019Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
14000
CY2019Q4 us-gaap Variable Lease Cost
VariableLeaseCost
725000
CY2019Q4 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1768000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19524000
us-gaap Lease Cost
LeaseCost
6111000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
51659000
CY2019Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
7694000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
76929000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y6M21D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0384
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
5088000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2627000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24832000
CY2018Q4 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
696000
CY2019Q4 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
652000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5378000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10839000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9574000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9227000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9209000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
60026000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
104253000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
19630000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
84623000
CY2019Q4 pcty Lessee Operating Lease Liability Amount Excluded
LesseeOperatingLeaseLiabilityAmountExcluded
546000
CY2018Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2330000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4463000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
10449000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
11150000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
9500000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2534000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
3771000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1321000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1308000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
8838000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
59401000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
108178000
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.08
CY2018Q4 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1140000
us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
CY2018Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10099000
CY2019Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12770000
CY2018Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.226
CY2019Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.146
CY2018Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.362
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.505
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5704000
CY2019Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5467000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15556000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
19373000
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52842000
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53542000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52853000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53415000
CY2018Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2239000
CY2019Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2284000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2379000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2277000
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55081000
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55826000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55232000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55692000
CY2018Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2018Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
42000
CY2019Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
704000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
631000
CY2018Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
34991000

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