Paychex (PAYX) : Jolley Asset Management added new position in Paychex during the most recent quarter end. The investment management firm now holds 1,535 shares of Paychex which is valued at $80,234 , the company said in a statement filed on Apr 21, 2016 with the SEC.Paychex makes up approximately 0.07% of Jolley Asset Management’s portfolio.
Paychex opened for trading at $52.67 and hit $53.24 on the upside on Wednesday, eventually ending the session at $53.12, with a gain of 0.89% or 0.47 points. The heightened volatility saw the trading volume jump to 16,19,352 shares. Company has a market cap of $19,130 M.
Other Hedge Funds, Including , Valley National Advisers Inc reduced its stake in PAYX by selling 464 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 60,055 shares of PAYX which is valued at $3,139,075. Paychex makes up approx 1.66% of Valley National Advisers Inc’s portfolio.Rathbone Brothers Plc reduced its stake in PAYX by selling 3,841 shares or 15.68% in the most recent quarter. The Hedge Fund company now holds 20,660 shares of PAYX which is valued at $1,088,369. Paychex makes up approx 0.07% of Rathbone Brothers Plc’s portfolio.Filament reduced its stake in PAYX by selling 1,000 shares or 16.67% in the most recent quarter. The Hedge Fund company now holds 5,000 shares of PAYX which is valued at $263,400. Paychex makes up approx 0.13% of Filament’s portfolio.
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.