Thu Sep 26 12:57:15 UTC 2024: ## HSBC Cuts Stake in Paylocity, Other Investors Make Moves

**New York, NY – September 26, 2024** – HSBC Holdings PLC reduced its position in Paylocity Holding Co. (NASDAQ:PCTY) by 25.1% during the second quarter, according to a recent SEC filing. The institutional investor now owns 21,258 shares of the software maker, worth approximately $2.8 million. This move comes amidst a flurry of activity from other hedge funds and institutional investors.

Rothschild Investment LLC acquired a new stake in Paylocity worth $40,000 in the second quarter, while J.Safra Asset Management Corp increased its holding by 80% in the first quarter, now owning 243 shares valued at $42,000. GAMMA Investing LLC and RiverPark Advisors LLC also boosted their positions in the software maker during the first quarter.

Meanwhile, Paylocity’s CFO, Ryan Glenn, sold 1,400 shares on July 15th at an average price of $140.06, totaling $196,084. CEO Steven R. Beauchamp sold 49,442 shares on July 22nd at an average price of $142.68, for a total value of $7,054,384.56.

Paylocity stock opened at $161.58 on Thursday, with a market cap of $8.98 billion. The company’s recent earnings report, released on August 1st, showed an EPS of $1.48, exceeding analyst expectations. Paylocity’s revenue for the quarter reached $357.30 million, also surpassing estimates.

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for the US workforce. The company’s services include payroll and tax management, expense management, and on-demand payment solutions.

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