Paychex (PAYX) : Welch Forbes reduced its stake in Paychex by 0.17% during the most recent quarter end. The investment management company now holds a total of 760,991 shares of Paychex which is valued at $44,525,583 after selling 1,308 shares in Paychex , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Paychex makes up approximately 1.32% of Welch Forbes’s portfolio.
Other Hedge Funds, Including , Mcdonald Capital Investors Incca boosted its stake in PAYX in the latest quarter, The investment management firm added 42,672 additional shares and now holds a total of 2,103,858 shares of Paychex which is valued at $123,096,732. Paychex makes up approx 12.51% of Mcdonald Capital Investors Incca’s portfolio. Calamos Advisors added PAYX to its portfolio by purchasing 3,600 company shares during the most recent quarter which is valued at $216,900.Confluence Investment Management boosted its stake in PAYX in the latest quarter, The investment management firm added 27,350 additional shares and now holds a total of 1,117,828 shares of Paychex which is valued at $67,349,137. Paychex makes up approx 1.81% of Confluence Investment Management’s portfolio.Tiaa Cref Trust Co Fsbmo reduced its stake in PAYX by selling 335 shares or 1.87% in the most recent quarter. The Hedge Fund company now holds 17,615 shares of PAYX which is valued at $1,069,935. Paychex makes up approx 0.01% of Tiaa Cref Trust Co Fsbmo’s portfolio.Capital Management Corp Va reduced its stake in PAYX by selling 31,142 shares or 20.98% in the most recent quarter. The Hedge Fund company now holds 117,288 shares of PAYX which is valued at $7,124,073. Paychex makes up approx 2.62% of Capital Management Corp Va’s portfolio.
Paychex closed down -0.28 points or -0.47% at $59.08 with 13,89,463 shares getting traded on Monday. Post opening the session at $59.33, the shares hit an intraday low of $58.96 and an intraday high of $59.3535 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.