Parthenon Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Parthenon reduced its stake in Paychex by 3.4% during the most recent quarter end. The investment management company now holds a total of 311,974 shares of Paychex which is valued at $18,796,434 after selling 10,975 shares in Paychex , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Paychex makes up approximately 4.64% of Parthenon’s portfolio.

Other Hedge Funds, Including , Hl Financial Services boosted its stake in PAYX in the latest quarter, The investment management firm added 808 additional shares and now holds a total of 183,280 shares of Paychex which is valued at $11,042,620. Paychex makes up approx 0.25% of Hl Financial Services’s portfolio.Yhb Investment Advisors boosted its stake in PAYX in the latest quarter, The investment management firm added 235 additional shares and now holds a total of 62,820 shares of Paychex which is valued at $3,815,687. Paychex makes up approx 0.81% of Yhb Investment Advisors’s portfolio.Private Trust Co Na reduced its stake in PAYX by selling 298 shares or 4.3% in the most recent quarter. The Hedge Fund company now holds 6,629 shares of PAYX which is valued at $401,121. Paychex makes up approx 0.10% of Private Trust Co Na’s portfolio.Central Bank Trust Co boosted its stake in PAYX in the latest quarter, The investment management firm added 351 additional shares and now holds a total of 98,829 shares of Paychex which is valued at $6,039,440. Paychex makes up approx 1.70% of Central Bank Trust Co’s portfolio.Curian Capital reduced its stake in PAYX by selling 38,885 shares or 81.43% in the most recent quarter. The Hedge Fund company now holds 8,866 shares of PAYX which is valued at $543,752. Paychex makes up approx 0.04% of Curian Capital’s portfolio.

Paychex opened for trading at $59.16 and hit $59.31 on the upside on Friday, eventually ending the session at $59.28, with a gain of 0.14% or 0.08 points. The heightened volatility saw the trading volume jump to 34,74,522 shares. Company has a market cap of $21,372 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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