5 Best Stocks to Buy Now According to Jeffrey Diehl’s Adams Street Partners

02. Paylocity Holding Corporation (NASDAQ:PCTY)

Adams Street Partners Stake Value: $103.466 million

Percentage of Adams Street Partners 13F Portfolio: 26.93%

Number of Hedge Fund Holders as of Q2 2022: 23

Adams Street Partners is the largest shareholder of Paylocity Holding Corporation (NASDAQ:PCTY) during Q2, holding 593,200 of its shares worth $103.466 million. Adams Street Partners initiated its position in Paylocity Holding Corporation (NASDAQ:PCTY) during Q4, 2015. The fund has gradually decreased its stake in the stock since then, from holding 6.1 million shares in Q4, 2015 to a mere 593,2o0 shares in Q2, 2022.

According to Insider Monkey’s Q2 data, Paylocity Holding Corporation (NASDAQ:PCTY) was found in the public stock portfolios of 23 hedge funds, with collective stakes in the company worth $458.687 million. Paylocity Holding Corporation (NASDAQ:PCTY) was first covered by Citi analyst Steven Enders on September 1, who gave the company a Neutral rating and a $294 price target. The analyst sees a more balanced risk/reward for shares at current prices and some higher risk relative to Paylocity Holding Corporation (NASDAQ:PCTY) end market.

Polen U.S. Small Company Growth Fund, in its Q4 2021 investor letter, mentioned Paylocity Holding Corporation (NASDAQ:PCTY) and discussed its stance on the stock. Here is what the fund said:

“All our Portfolio companies, detractors included, are delivering on our long-term expectations and continue to have compelling growth prospects… We also reduced our position in Paylocity. This was purely a risk management decision, as we are still very positive on each company and its prospects.”