Wealthsource Partners buys $632,125 stake in Paychex (PAYX)

Paychex (PAYX) : Wealthsource Partners scooped up 1,295 additional shares in Paychex during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 10,553 shares of Paychex which is valued at $632,125.Paychex makes up approximately 0.23% of Wealthsource Partners’s portfolio.

Other Hedge Funds, Including , Moors Cabot boosted its stake in PAYX in the latest quarter, The investment management firm added 469 additional shares and now holds a total of 6,077 shares of Paychex which is valued at $364,012. Paychex makes up approx 0.06% of Moors Cabot’s portfolio.State Treasurer State Of Michigan boosted its stake in PAYX in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 111,351 shares of Paychex which is valued at $6,515,147. Paychex makes up approx 0.05% of State Treasurer State Of Michigan’s portfolio.Courier Capital Corp boosted its stake in PAYX in the latest quarter, The investment management firm added 645 additional shares and now holds a total of 33,058 shares of Paychex which is valued at $1,934,224. Paychex makes up approx 0.38% of Courier Capital Corp’s portfolio.Carroll Financial Associates boosted its stake in PAYX in the latest quarter, The investment management firm added 1,149 additional shares and now holds a total of 8,934 shares of Paychex which is valued at $540,596. Paychex makes up approx 0.09% of Carroll Financial Associates’s portfolio. Contravisory Investment Management added PAYX to its portfolio by purchasing 113,180 company shares during the most recent quarter which is valued at $6,916,430. Paychex makes up approx 2.10% of Contravisory Investment Management’s portfolio.

Paychex opened for trading at $60.02 and hit $60.25 on the upside on Monday, eventually ending the session at $60.1, with a gain of 0.12% or 0.07 points. The heightened volatility saw the trading volume jump to 12,68,159 shares. Company has a market cap of $21,668 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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