It was just another day for the New Jersey Pension Fund managers when they stumbled upon a diamond in the rough. Paylocity Holding Co, a cloud-based payroll and HR management solution provider, was having a strong financial quarter, and the fund managers saw an opportunity to make a profitable investment.
With a clear strategy in mind, the fund boosted its position in Paylocity Holding Co, and the move paid off handsomely. The company's stock prices rose significantly, and the fund made a substantial profit.
In fact, this was not the first time that the New Jersey Pension Fund had invested in Paylocity Holding Co. The fund had previously invested in the company in its early stages, and that investment was bearing fruit now. The fund managers were confident that the company's continued growth would ensure a handsome return on investment.
Examples of other companies who had a similar growth pattern were also cited, such as Amazon and Apple, who had started as small startups and went on to be industry leaders.
Conclusion
- The New Jersey Pension Fund saw the potential in Paylocity Holding Co and made a smart investment that paid off handsomely.
- The additional investment in Paylocity Holding Co was made in the midst of a strong financial quarter.
- The company's growth prospects and potential for continued expansion made it an attractive investment opportunity.
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