Revenue Update on Paychex(NASDAQ:PAYX)

Paychex(NASDAQ:PAYX) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Jun 30, 2016. Company reported revenue of $753.90M. Analysts estimated a revenue of $751.52M. Earnings per share were $0.49. Analysts had estimated an EPS of $0.49.

In a different note, Compass Point said it Initiates Coverage on Paychex, according to a research note issued on Apr 15, 2016. The shares have been rated ‘Sell’ by the firm.

Paychex (PAYX) made into the market gainers list on Tuesdays trading session with the shares advancing 1.09% or 0.65 points. Due to strong positive momentum, the stock ended at $60.09, which is also near the day’s high of $60.3. The stock began the session at $59.3 and the volume stood at 36,08,560 shares. The 52-week high of the shares is $60.3 and the 52 week low is $41.59. The company has a current market capitalization of $21,640 M and it has 36,01,21,050 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 21, 2016, Laurie L. Zaucha (Vice President) sold 13,500 shares at $55.50 per share price.Also, On May 13, 2016, Pamela A Joseph (director) sold 6,000 shares at $52.49 per share price.On Apr 27, 2016, Grant M Inman (director) sold 4,197 shares at $52.85 per share price, according to the Form-4 filing with the securities and exchange commission.

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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