Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Paylocity Holdings Corp reported solid results for Q3 2024, with total revenue growth of 18.1%.</li><li>Paylocity credits this trend to their offerings resonating in the market, particularly among the younger generation, due to their investment in meeting the needs and expectations of the modern workforce.</li><li>The company has released new enhancements to their talent acquisition suite to facilitate recruitment, training, and retention of this demographic.</li></ul>

Paylocity Holdings Corp reported solid results for Q3 2024, with total revenue growth of 18.1%.Paylocity credits this trend to their offerings resonating in the market, particularly among the younger generation, due to their investment in meeting the needs and expectations of the modern workforce.The company has released new enhancements to their talent acquisition suite to facilitate recruitment, training, and retention of this demographic.

Paylocity Holdings Corp: How Have They Expanded Their Addressable Market? - Major Drivers

<ul><li>Paylocity Holding Corporation posted impressive Q2 of fiscal ’24 earnings with a growth of 20% in total revenue, underpinned by positive customer peception of its new solutions such as Advanced Scheduling, Learning Management, Rewards and Recognition, and Employee Voice.</li><li>The 21st consecutive quarter for Paylocity to be recognized as a leading HCM provider by G2’s Winter 2023 Grid Reports, alongside its stake strengthening in the sector with the acquisition of Trace, puts the company in a strong position going forward.</li><li>Despite the resounding positives, it is critical to note that the company saw moderations in employment levels which presented hurdles to the results and impacted the fiscal ’24 guidance.</li></ul>

Paylocity Holding Corporation posted impressive Q2 of fiscal ’24 earnings with a growth of 20% in total revenue, underpinned by positive customer peception of its new solutions such as Advanced Scheduling, Learning Management, Rewards and Recognition, and Employee Voice.The 21st consecutive quarter for Paylocity to be recognized as a leading HCM provider by G2’s Winter 2023 Grid Reports, alongside its stake strengthening in the sector with the acquisition of Trace, puts the company in a strong position going forward.Despite the resounding positives, it is critical to note that the company saw moderations in employment levels which presented hurdles to the results and impacted the fiscal ’24 guidance.

Paylocity Holding Corporation: These 4 Pivotal Factors Are Influencing Its Future Performance! - Major Drivers

<ul><li>Paylocity Holding Corporation reported first-quarter fiscal year 2024 results, reflecting a 25% y-o-y increase in the total revenue, driven by the value proposition of the company's modern software.</li><li>The recurring and other revenues constituted $291.7 million, up by 19%, and were driven by continuous innovation by the company.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Paylocity Holding Corporation reported first-quarter fiscal year 2024 results, reflecting a 25% y-o-y increase in the total revenue, driven by the value proposition of the company's modern software.The recurring and other revenues constituted $291.7 million, up by 19%, and were driven by continuous innovation by the company.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Paylocity Holding Corporation: Initiation of Coverage – What Are Their Biggest Growth Drivers? - Financial Forecasts

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The IE considers K1’s A$4.85 offer for <a href="https://www.smartkarma.com/entities/elmo-software-ltd" target="_blank" data-smartkarma-citation="entities:24342:1" rel="noopener">Elmo Software (ELO AU)</a> to be fair and reasonable as it is towards the high end of its valuation range of A$4.39-4.98.</li>
<li>K1 has received FIRB and US antitrust approval. The remaining key conditions are shareholders and court approval.</li>
<li>This is a done deal. At the last close price and for the 23 February 2023 payment, the gross and annualised spread is 1.9% and 10.9%, respectively.</li>
</ul>


The IE considers K1’s A$4.85 offer for Elmo Software (ELO AU) to be fair and reasonable as it is towards the high end of its valuation range of A$4.39-4.98.
K1 has received FIRB and US antitrust approval. The remaining key conditions are shareholders and court approval.
This is a done deal. At the last close price and for the 23 February 2023 payment, the gross and annualised spread is 1.9% and 10.9%, respectively.


Elmo Software (ELO AU)’s Scheme Meeting on 30 January

<ul>
<li>
<a href="https://www.smartkarma.com/entities/elmo-software-ltd" target="_blank" data-smartkarma-citation="entities:24342:1" rel="noopener">Elmo Software (ELO AU)</a> entered a scheme implementation deed (SID) with K1 at A$4.85 per share, a 100.4% premium to the undisturbed price.</li>
<li>The key conditions are a shareholder and regulatory (FIRB &amp; US antitrust) approvals. The scheme meeting is likely in early 1Q23. </li>
<li>While not a knockout bid, it is attractive in the context of current conditions. Key shareholders will vote in favour. At the last close, the gross spread is 4.8%.</li>
</ul>



Elmo Software (ELO AU) entered a scheme implementation deed (SID) with K1 at A$4.85 per share, a 100.4% premium to the undisturbed price.
The key conditions are a shareholder and regulatory (FIRB &amp; US antitrust) approvals. The scheme meeting is likely in early 1Q23. 
While not a knockout bid, it is attractive in the context of current conditions. Key shareholders will vote in favour. At the last close, the gross spread is 4.8%.


Elmo Software Enters a SID with K1 at A$4.85

United States

Paylocity Holding Corporation is a provider of cloud-based payroll and human capital management, or HCM, software solutions for medium-sized organizations.

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Paylocity Holding (PCTY US)

Paylocity Holdings Corp: How Have They Expanded Their Addressable Market? - Major Drivers

Paylocity Holdings Corp reported solid results for Q3 2024, with total revenue growth of 18.1%. Paylocity credits this trend to their offerings...

Baptista Research

Paylocity Holding Corporation: These 4 Pivotal Factors Are Influencing Its Future Performance! - Major Drivers

Paylocity Holding Corporation posted impressive Q2 of fiscal ’24 earnings with a growth of 20% in total revenue, underpinned by positive customer...

Baptista Research

Paylocity Holding Corporation: Initiation of Coverage – What Are Their Biggest Growth Drivers? - Financial Forecasts

Paylocity Holding Corporation reported first-quarter fiscal year 2024 results, reflecting a 25% y-o-y increase in the total revenue, driven by the...

Baptista Research

Elmo Software (ELO AU)’s Scheme Meeting on 30 January

This is a done deal. At the last close price and for the 23 February 2023 payment, the gross and annualised spread is 1.9% and 10.9%, respectively.

Arun George

Elmo Software Enters a SID with K1 at A$4.85

While not a knockout bid, it is attractive in the context of current conditions. Key shareholders will vote in favour. At the last close, the gross...

Arun George

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