Karp Capital Management Corp buys $2,157,898 stake in Paychex (PAYX)

Paychex (PAYX) : Karp Capital Management Corp scooped up 1,498 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 35,947 shares of Paychex which is valued at $2,157,898.Paychex makes up approximately 1.41% of Karp Capital Management Corp’s portfolio.

Other Hedge Funds, Including , Godshalk Welsh Capital Management reduced its stake in PAYX by selling 1,650 shares or 5.09% in the most recent quarter. The Hedge Fund company now holds 30,770 shares of PAYX which is valued at $1,847,123. Paychex makes up approx 1.92% of Godshalk Welsh Capital Management’s portfolio. Budros Ruhlin Roe added PAYX to its portfolio by purchasing 3,565 company shares during the most recent quarter which is valued at $214,007. Paychex makes up approx 0.07% of Budros Ruhlin Roe’s portfolio.Mn Services Vermogensbeheer B.v. boosted its stake in PAYX in the latest quarter, The investment management firm added 151 additional shares and now holds a total of 8,207 shares of Paychex which is valued at $487,168. Paychex makes up approx 0.10% of Mn Services Vermogensbeheer B.v.’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in PAYX in the latest quarter, The investment management firm added 903 additional shares and now holds a total of 8,738 shares of Paychex which is valued at $526,465. Paychex makes up approx 0.05% of Tokio Marine Asset Management Co Ltd’s portfolio.Msi Financial Services Inc boosted its stake in PAYX in the latest quarter, The investment management firm added 4,035 additional shares and now holds a total of 35,781 shares of Paychex which is valued at $2,155,805. Paychex makes up approx 0.08% of Msi Financial Services Inc’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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