Godshalk Welsh Capital Management Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Godshalk Welsh Capital Management reduced its stake in Paychex by 0.16% during the most recent quarter end. The investment management company now holds a total of 30,720 shares of Paychex which is valued at $1,729,536 after selling 50 shares in Paychex , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Paychex makes up approximately 1.80% of Godshalk Welsh Capital Management’s portfolio.

Other Hedge Funds, Including , Pictet Asset Management Ltd reduced its stake in PAYX by selling 187,200 shares or 52.15% in the most recent quarter. The Hedge Fund company now holds 171,785 shares of PAYX which is valued at $9,671,496. Paychex makes up approx 0.04% of Pictet Asset Management Ltd’s portfolio.New York State Common Retirement Fund reduced its stake in PAYX by selling 67,300 shares or 6.56% in the most recent quarter. The Hedge Fund company now holds 959,350 shares of PAYX which is valued at $52,255,795. Paychex makes up approx 0.08% of New York State Common Retirement Fund’s portfolio.Canada Pension Plan Investment Board reduced its stake in PAYX by selling 6,952 shares or 5.97% in the most recent quarter. The Hedge Fund company now holds 109,495 shares of PAYX which is valued at $5,964,193. Paychex makes up approx 0.02% of Canada Pension Plan Investment Board’s portfolio.Neuberger Berman Group boosted its stake in PAYX in the latest quarter, The investment management firm added 1,256 additional shares and now holds a total of 6,915 shares of Paychex which is valued at $375,761.Ftb Advisors reduced its stake in PAYX by selling 2,179 shares or 16.64% in the most recent quarter. The Hedge Fund company now holds 10,918 shares of PAYX which is valued at $602,674. Paychex makes up approx 0.08% of Ftb Advisors’s portfolio.

Paychex opened for trading at $55.85 and hit $56.17 on the upside on Monday, eventually ending the session at $55.93, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 21,80,443 shares. Company has a market cap of $20,227 M.

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.

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.

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