Van Cleef Asset Managementinc buys $6,818,778 stake in Paychex (PAYX)

Paychex (PAYX) : Van Cleef Asset Managementinc scooped up 1,442 additional shares in Paychex during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 130,453 shares of Paychex which is valued at $6,818,778.Paychex makes up approximately 2.39% of Van Cleef Asset Managementinc’s portfolio.

Paychex closed down -0.02 points or -0.04% at $52.27 with 16,52,262 shares getting traded on Friday. Post opening the session at $52.28, the shares hit an intraday low of $52.08 and an intraday high of $52.67 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Sigma Planning Corp boosted its stake in PAYX in the latest quarter, The investment management firm added 490 additional shares and now holds a total of 20,692 shares of Paychex which is valued at $1,081,571. Paychex makes up approx 0.15% of Sigma Planning Corp’s portfolio. Clean Yield Group added PAYX to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $26,435. Paychex makes up approx 0.01% of Clean Yield Group’s portfolio.Howland Capital Management reduced its stake in PAYX by selling 713 shares or 0.3% in the most recent quarter. The Hedge Fund company now holds 238,540 shares of PAYX which is valued at $12,611,610. Paychex makes up approx 1.27% of Howland Capital Management’s portfolio.Eqis Capital Management reduced its stake in PAYX by selling 2,291 shares or 38.01% in the most recent quarter. The Hedge Fund company now holds 3,736 shares of PAYX which is valued at $196,812. Paychex makes up approx 0.01% of Eqis Capital Management’s portfolio.Kistler-tiffany Companies reduced its stake in PAYX by selling 118 shares or 7.87% in the most recent quarter. The Hedge Fund company now holds 1,381 shares of PAYX which is valued at $72,751. Paychex makes up approx 0.04% of Kistler-tiffany Companies’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.

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