Polen Capital, an investment management company, has published its Q3 2024 investor letter “Poland US Small Company Growth Strategy”. You can download a copy of the letter here. The third quarter saw a strong performance for US small-cap stocks, driven by interest rate cuts and easing recession concerns. In the third quarter, the fund returned 7.65% gross and 7.35% net of fees, compared to an 8.41% return for the Russell 2000 Growth Index. In addition, you can view the fund’s top 5 investments to discover the best choices for 2024.
Poland America’s Small Business Growth Strategy highlighted stocks like Paylocity Holding Corporation (NASDAQ:PCTY) in its Q3 2024 investor letter. Paylocity Holding Corporation (NASDAQ:PCTY), headquartered in Schaumburg, Illinois, is a software company that provides cloud-based human capital management and payroll software solutions. Paylocity Holding Corporation (NASDAQ:PCTY)’s one-month return was 15.36%, and the stock has gained 29.88% of its value over the past 52 weeks. On November 15, 2024, shares of Paylocity Holding Corporation (NASDAQ:PCTY) closed at $197.79 per share with a market cap of $11.026 billion.
Poland US Small Company Growth Strategy stated the following regarding Paylocity Holding Corporation (NASDAQ:PCTY) in its Q3 2024 investor letter:
“During the quarter, we made six new additions and five full sales. We also expanded and trimmed a number of existing positions. Additions included NV5 Global, Rambus, Paylocity Holding Corporation (NASDAQ:PCTY), Insight Enterprises, elf Beauty and Dutch Bros.
An operations manager, who oversees the expense management system that simplifies financial matters for the company.
Paylocity Holding Corporation (NASDAQ:PCTY) isn’t on our list of the 31 most popular stocks among hedge funds. According to our database, 36 hedge fund portfolios held Paylocity Holding Corporation (NASDAQ:PCTY) at the end of the second quarter, up from 25 in the previous quarter. While we recognize the potential of Paylocity Holding Corporation (NASDAQ:PCTY) as an investment, our belief lies in the belief that AI stocks hold greater promise for delivering higher returns in a shorter time frame. If you’re looking for an AI stock that’s as promising as NVIDIA, but trades at less than five times earnings, check out our report on the cheapest AI stocks.
In another article, we discussed Paylocity Holding Corporation (NASDAQ:PCTY) and shared Piper Sandler’s top tech stock picks and best stocks. Additionally, check out our letters to hedge fund investors Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article was originally published on Insider Monkey.
