Weatherstone Capital Management Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Weatherstone Capital Management reduced its stake in Paychex by 1.97% during the most recent quarter end. The investment management company now holds a total of 8,067 shares of Paychex which is valued at $417,145 after selling 162 shares in Paychex , the firm said in a disclosure report filed with the SEC on May 13, 2016.Paychex makes up approximately 0.30% of Weatherstone Capital Management’s portfolio.

Other Hedge Funds, Including , Shoker Investment Counsel reduced its stake in PAYX by selling 52 shares or 0.23% in the most recent quarter. The Hedge Fund company now holds 22,980 shares of PAYX which is valued at $1.2 Million. Paychex makes up approx 1.12% of Shoker Investment Counsel’s portfolio.Brookmont Capital Management reduced its stake in PAYX by selling 22,310 shares or 9.63% in the most recent quarter. The Hedge Fund company now holds 209,373 shares of PAYX which is valued at $10.8 Million. Paychex makes up approx 3.51% of Brookmont Capital Management’s portfolio.United Capital Financial Advisers reduced its stake in PAYX by selling 3,330 shares or 4.47% in the most recent quarter. The Hedge Fund company now holds 71,157 shares of PAYX which is valued at $3.7 Million. Paychex makes up approx 0.04% of United Capital Financial Advisers’s portfolio. Forsta Ap-fonden sold out all of its stake in PAYX during the most recent quarter. The investment firm sold 369,755 shares of PAYX which is valued $19.1 Million.Johnson Financial Group boosted its stake in PAYX in the latest quarter, The investment management firm added 305 additional shares and now holds a total of 20,074 shares of Paychex which is valued at $1 Million. Paychex makes up approx 0.21% of Johnson Financial Group’s portfolio.

Paychex opened for trading at $53.23 and hit $53.71 on the upside on Wednesday, eventually ending the session at $53.67, with a gain of 1.11% or 0.59 points. The heightened volatility saw the trading volume jump to 19,59,397 shares. Company has a market cap of $19,328 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.

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