W.g. Shaheen Associates Dba Whitney Co buys $7,832,796 stake in Paychex (PAYX)

Paychex (PAYX) : W.g. Shaheen Associates Dba Whitney Co scooped up 3,720 additional shares in Paychex during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 148,152 shares of Paychex which is valued at $7,832,796.Paychex makes up approximately 3.33% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.

Paychex opened for trading at $52.81 and hit $53.42 on the upside on Monday, eventually ending the session at $53.42, with a gain of 1.04% or 0.55 points. The heightened volatility saw the trading volume jump to 11,06,400 shares. Company has a market cap of $19,238 M.

Other Hedge Funds, Including , Manning Napier Advisors boosted its stake in PAYX in the latest quarter, The investment management firm added 384 additional shares and now holds a total of 47,265 shares of Paychex which is valued at $2,498,901. Paychex makes up approx 0.02% of Manning Napier Advisors’s portfolio.Gradient Investments boosted its stake in PAYX in the latest quarter, The investment management firm added 1,399 additional shares and now holds a total of 73,156 shares of Paychex which is valued at $3,867,758. Paychex makes up approx 0.47% of Gradient Investments’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in PAYX in the latest quarter, The investment management firm added 6,292 additional shares and now holds a total of 78,215 shares of Paychex which is valued at $4,135,227. Paychex makes up approx 0.09% of Exxonmobil Investment Management Inc Tx’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.Burns J W Co Incny boosted its stake in PAYX in the latest quarter, The investment management firm added 1,188 additional shares and now holds a total of 55,171 shares of Paychex which is valued at $2,906,408. Paychex makes up approx 0.93% of Burns J W Co Incny’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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