Rench Wealth Management Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Rench Wealth Management reduced its stake in Paychex by 1.98% during the most recent quarter end. The investment management company now holds a total of 87,357 shares of Paychex which is valued at $4.5 Million after selling 1,766 shares in Paychex , the firm said in a disclosure report filed with the SEC on May 12, 2016.Paychex makes up approximately 3.79% of Rench Wealth Management’s portfolio.

Other Hedge Funds, Including , Ameritas Investment Partners reduced its stake in PAYX by selling 1,255 shares or 9.34% in the most recent quarter. The Hedge Fund company now holds 12,176 shares of PAYX which is valued at $629,621. Paychex makes up approx 0.04% of Ameritas Investment Partners’s portfolio. Catalyst Capital Advisors sold out all of its stake in PAYX during the most recent quarter. The investment firm sold 110,000 shares of PAYX which is valued $5.7 Million.Comerica Bank boosted its stake in PAYX in the latest quarter, The investment management firm added 4,475 additional shares and now holds a total of 138,621 shares of Paychex which is valued at $7.2 Million. Paychex makes up approx 0.07% of Comerica Bank’s portfolio.East Coast Asset Management. reduced its stake in PAYX by selling 405 shares or 1.76% in the most recent quarter. The Hedge Fund company now holds 22,591 shares of PAYX which is valued at $1.2 Million. Paychex makes up approx 0.62% of East Coast Asset 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.

Leave a Reply

Paychex - Is it time to Sell?

Top Brokerage Firms are advising their investors on Paychex. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.