Paychex (PAYX) : North Star Investment Management Corp. reduced its stake in Paychex by 0.06% during the most recent quarter end. The investment management company now holds a total of 87,366 shares of Paychex which is valued at $4,553,516 after selling 53 shares in Paychex , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Paychex makes up approximately 0.86% of North Star Investment Management Corp.’s portfolio.
Paychex opened for trading at $52.23 and hit $52.655 on the upside on Monday, eventually ending the session at $52.6, with a gain of 0.92% or 0.48 points. The heightened volatility saw the trading volume jump to 12,65,681 shares. Company has a market cap of $18,942 M.
Other Hedge Funds, Including , Baring Asset Management Ltd boosted its stake in PAYX in the latest quarter, The investment management firm added 383 additional shares and now holds a total of 8,994 shares of Paychex which is valued at $468,767. Paychex makes up approx 0.04% of Baring Asset Management Ltd’s portfolio.Dearborn Partners reduced its stake in PAYX by selling 200 shares or 2.86% in the most recent quarter. The Hedge Fund company now holds 6,800 shares of PAYX which is valued at $355,436. Paychex makes up approx 0.03% of Dearborn Partners’s portfolio. Donald L. Hagan added PAYX to its portfolio by purchasing 235 company shares during the most recent quarter which is valued at $12,424. Paychex makes up approx 0.01% of Donald L. Hagan’s portfolio.Hexavest boosted its stake in PAYX in the latest quarter, The investment management firm added 39,129 additional shares and now holds a total of 694,147 shares of Paychex which is valued at $36,699,552. Paychex makes up approx 0.57% of Hexavest’s portfolio.Central Trust Co boosted its stake in PAYX in the latest quarter, The investment management firm added 111 additional shares and now holds a total of 4,758 shares of Paychex which is valued at $251,555. Paychex makes up approx 0.02% of Central Trust Co’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.