Andra Ap-fonden buys $27,001,494 stake in Paychex (PAYX)

Paychex (PAYX) : Andra Ap-fonden scooped up 16,901 additional shares in Paychex during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 449,800 shares of Paychex which is valued at $27,001,494.Paychex makes up approximately 0.68% of Andra Ap-fonden’s portfolio.

Other Hedge Funds, Including , Ranger International Management Lp boosted its stake in PAYX in the latest quarter, The investment management firm added 1,290 additional shares and now holds a total of 150,680 shares of Paychex which is valued at $9,045,320. Paychex makes up approx 3.71% of Ranger International Management Lp’s portfolio.Credit Suisse Ag reduced its stake in PAYX by selling 192,984 shares or 12.87% in the most recent quarter. The Hedge Fund company now holds 1,306,212 shares of PAYX which is valued at $78,411,906. Paychex makes up approx 0.10% of Credit Suisse Ag’s portfolio. Denver Investment Advisors added PAYX to its portfolio by purchasing 3,683 company shares during the most recent quarter which is valued at $220,612. Paychex makes up approx 0.01% of Denver Investment Advisors’s portfolio.Investors Capital Advisory Services boosted its stake in PAYX in the latest quarter, The investment management firm added 2,224 additional shares and now holds a total of 11,159 shares of Paychex which is valued at $652,913. Paychex makes up approx 0.13% of Investors Capital Advisory Services’s portfolio.Advisory Services Network boosted its stake in PAYX in the latest quarter, The investment management firm added 3,030 additional shares and now holds a total of 9,115 shares of Paychex which is valued at $549,179. Paychex makes up approx 0.12% of Advisory Services Network’s portfolio.

Paychex opened for trading at $60.68 and hit $60.82 on the upside on Monday, eventually ending the session at $60.65, with a gain of 0.25% or 0.15 points. The heightened volatility saw the trading volume jump to 7,77,524 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.

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