Alesco Advisors buys $5,097,447 stake in Paychex (PAYX)

Paychex (PAYX) : Alesco Advisors scooped up 463 additional shares in Paychex during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 84,915 shares of Paychex which is valued at $5,097,447.Paychex makes up approximately 0.41% of Alesco Advisors’s portfolio.

Other Hedge Funds, Including , Lafayette Investments reduced its stake in PAYX by selling 1,646 shares or 1.5% in the most recent quarter. The Hedge Fund company now holds 107,804 shares of PAYX which is valued at $6,471,474. Paychex makes up approx 2.59% of Lafayette Investments’s portfolio.Johnson Financial Group boosted its stake in PAYX in the latest quarter, The investment management firm added 2,034 additional shares and now holds a total of 22,108 shares of Paychex which is valued at $1,327,143. Paychex makes up approx 0.18% of Johnson Financial Group’s portfolio.Proshare Advisors reduced its stake in PAYX by selling 32,506 shares or 19.6% in the most recent quarter. The Hedge Fund company now holds 133,360 shares of PAYX which is valued at $8,005,601. Paychex makes up approx 0.10% of Proshare Advisors’s portfolio.Smith Asset Management Group Lp reduced its stake in PAYX by selling 600 shares or 0.27% in the most recent quarter. The Hedge Fund company now holds 224,010 shares of PAYX which is valued at $13,496,603. Paychex makes up approx 0.39% of Smith Asset Management Group Lp’s portfolio.

Paychex opened for trading at $60.8 and hit $61.025 on the upside on Thursday, eventually ending the session at $60.99, with a gain of 0.53% or 0.32 points. The heightened volatility saw the trading volume jump to 12,14,529 shares. Company has a market cap of $21,989 M.

On the company’s financial health, Paychex reported $0.49 EPS for the quarter, based on the information available during the earnings call on Jun 30, 2016. Analyst had a consensus estimate of $0.49. The company had revenue of $753.90 million for the quarter, compared to analysts expectations of $751.03 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

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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