Paychex (PAYX) : American Money Management reduced its stake in Paychex by 3.69% during the most recent quarter end. The investment management company now holds a total of 46,940 shares of Paychex which is valued at $2,817,808 after selling 1,800 shares in Paychex , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Paychex makes up approximately 2.23% of American Money Management’s portfolio.
Other Hedge Funds, Including , Cipher Capital Lp sold out all of its stake in PAYX during the most recent quarter. The investment firm sold 11,587 shares of PAYX which is valued $695,568. Atlanta Capital Group added PAYX to its portfolio by purchasing 4,180 company shares during the most recent quarter which is valued at $246,954. Paychex makes up approx 0.05% of Atlanta Capital Group’s portfolio.Brown Advisory Inc boosted its stake in PAYX in the latest quarter, The investment management firm added 1,439 additional shares and now holds a total of 61,082 shares of Paychex which is valued at $3,608,725. Paychex makes up approx 0.01% of Brown Advisory Inc’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in PAYX in the latest quarter, The investment management firm added 69,477 additional shares and now holds a total of 455,400 shares of Paychex which is valued at $27,032,544. Paychex makes up approx 0.08% of State Board Of Administration Of Florida Retirement System’s portfolio.
Paychex opened for trading at $60.69 and hit $60.87 on the upside on Tuesday, eventually ending the session at $60.65, with a gain of 0.45% or 0.27 points. The heightened volatility saw the trading volume jump to 11,71,107 shares. Company has a market cap of $21,866 M.
On the company’s financial health, Paychex reported $0.49 EPS for the quarter, based on the information available during the earnings call on Jun 30, 2016. Analyst had a consensus estimate of $0.49. The company had revenue of $753.90 million for the quarter, compared to analysts expectations of $751.03 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
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.