Janney Capital Management buys $28,409,267 stake in Paychex (PAYX)

Paychex (PAYX) : Janney Capital Management scooped up 6,642 additional shares in Paychex during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 549,396 shares of Paychex which is valued at $28,409,267.Paychex makes up approximately 1.55% of Janney Capital Management’s portfolio.

Other Hedge Funds, Including , Blackrock Investment Management reduced its stake in PAYX by selling 12,976 shares or 1.92% in the most recent quarter. The Hedge Fund company now holds 663,006 shares of PAYX which is valued at $34,284,040. Paychex makes up approx 0.05% of Blackrock Investment Management’s portfolio.Morgan Dempsey Capital Management boosted its stake in PAYX in the latest quarter, The investment management firm added 4,987 additional shares and now holds a total of 34,391 shares of Paychex which is valued at $1,778,359. Paychex makes up approx 0.65% of Morgan Dempsey Capital Management’s portfolio.Proshare Advisors reduced its stake in PAYX by selling 26,462 shares or 13.76% in the most recent quarter. The Hedge Fund company now holds 165,866 shares of PAYX which is valued at $8,610,104. Paychex makes up approx 0.12% of Proshare Advisors’s portfolio. Quantbot Technologies Lp added PAYX to its portfolio by purchasing 32,382 company shares during the most recent quarter which is valued at $1,687,750. Paychex makes up approx 0.27% of Quantbot Technologies Lp’s portfolio.

Paychex opened for trading at $51.71 and hit $52.39 on the upside on Monday, eventually ending the session at $52.06, with a gain of 0.68% or 0.35 points. The heightened volatility saw the trading volume jump to 15,90,558 shares. Company has a market cap of $18,748 M.

On the company’s financial health, Paychex reported $0.50 EPS for the quarter, based on the information available during the earnings call on Mar 30, 2016. Analyst had a consensus estimate of $0.50. The company had revenue of $752.60 million for the quarter, compared to analysts expectations of $751.21 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on Paychex. Compass Point Initiated Paychex on Apr 15, 2016 to “Sell”, Price Target of the shares are set at $45.

Paychex Inc. is a provider of integrated payroll human Resource insurance and benefits outsourcing solutions for small- to medium-sized businesses. The Company focuses on providing payroll and human Resource services; delivering these services; growing its client base through the efforts of its direct sales force; improving client service through its leading-edge technology; capitalizing on the growth opportunities within its existing client base and from new clients; investing in business through expansion of its services and product offerings; and supplementing its growth through strategic acquisitions. The Company offers services and products that allow its clients to meet their diverse payroll and human Resource needs. These include: payroll processing; payroll tax administration services; employee payment services; regulatory compliance services; Paychex HR Services; retirement services administration; insurance services; and online HR administration services.

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