Pennsylvania Trust Co Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Pennsylvania Trust Co reduced its stake in Paychex by 6.51% during the most recent quarter end. The investment management company now holds a total of 16,864 shares of Paychex which is valued at $947,757 after selling 1,175 shares in Paychex , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Paychex makes up approximately 0.08% of Pennsylvania Trust Co’s portfolio.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in PAYX in the latest quarter, The investment management firm added 1,392 additional shares and now holds a total of 76,000 shares of Paychex which is valued at $4,271,200. Paychex makes up approx 0.10% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio. Parametrica Management Ltd sold out all of its stake in PAYX during the most recent quarter. The investment firm sold 5,855 shares of PAYX which is valued $329,285.Community Bank N.a. reduced its stake in PAYX by selling 135 shares or 25.47% in the most recent quarter. The Hedge Fund company now holds 395 shares of PAYX which is valued at $22,215. Paychex makes up approx 0.01% of Community Bank N.a.’s portfolio. Cutler Group Lp added PAYX to its portfolio by purchasing 242 company shares during the most recent quarter which is valued at $13,714.Bnp Paribas Arbitrage Sa boosted its stake in PAYX in the latest quarter, The investment management firm added 134,245 additional shares and now holds a total of 211,203 shares of Paychex which is valued at $11,996,330. Paychex makes up approx 0.05% of Bnp Paribas Arbitrage Sa’s portfolio.

Paychex closed down -0.04 points or -0.07% at $56.2 with 10,71,355 shares getting traded on Friday. Post opening the session at $56.47, the shares hit an intraday low of $56.2 and an intraday high of $56.79 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Paychex reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Sep 28, 2016. Analyst had a consensus of $0.57. The company had revenue of $785.50 million for the quarter, compared to analysts expectations of $782.62 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Investors should note that on Oct 12, 2016, Paychex announced a cash dividend of $0.4600. The company’s management has announced Oct 28, 2016 as the ex-dividend date and fixed the record date on Nov 1, 2016. The payable date has been fixed on Nov 22, 2016.

Many Wall Street Analysts have commented on Paychex. Wedbush Initiated Paychex on Sep 9, 2016 to “Neutral”, Price Target of the shares are set at $65.

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.

Leave a Reply

Paychex - Is it time to Sell?

Top Brokerage Firms are advising their investors on Paychex. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.