Paychex (PAYX) : Pinnacle Wealth Management Advisory Group reduced its stake in Paychex by 1.72% during the most recent quarter end. The investment management company now holds a total of 22,508 shares of Paychex which is valued at $1.2 Million after selling 395 shares in Paychex , the firm said in a disclosure report filed with the SEC on May 12, 2016.Paychex makes up approximately 1.03% of Pinnacle Wealth Management Advisory Group’s portfolio.
Other Hedge Funds, Including , First Trust Advisors Lp boosted its stake in PAYX in the latest quarter, The investment management firm added 43,642 additional shares and now holds a total of 495,053 shares of Paychex which is valued at $25.6 Million. Paychex makes up approx 0.08% of First Trust Advisors Lp’s portfolio.Blackrock Investment Management reduced its stake in PAYX by selling 12,976 shares or 1.92% in the most recent quarter. The Hedge Fund company now holds 663,006 shares of PAYX which is valued at $34.3 Million. Paychex makes up approx 0.05% of Blackrock Investment Management’s portfolio.Bryn Mawr Trust Co boosted its stake in PAYX in the latest quarter, The investment management firm added 962 additional shares and now holds a total of 102,074 shares of Paychex which is valued at $5.3 Million. Paychex makes up approx 0.34% of Bryn Mawr Trust Co’s portfolio.Wellington Shields Capital Management boosted its stake in PAYX in the latest quarter, The investment management firm added 1,510 additional shares and now holds a total of 11,960 shares of Paychex which is valued at $620,844. Paychex makes up approx 0.11% of Wellington Shields Capital Management’s portfolio.
Paychex opened for trading at $51.88 and hit $52.33 on the upside on Friday, eventually ending the session at $52.03, with a gain of 0.62% or 0.32 points. The heightened volatility saw the trading volume jump to 15,73,554 shares. Company has a market cap of $18,737,096 M.
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.