Is Paychex, Inc. (NASDAQ:PAYX) a good investment?
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Thus, we’re going to study the newest info for Paychex, Inc. (NASDAQ:PAYX).
Hedge fund activity in Paychex, Inc. (NASDAQ:PAYX)
In preparation for the third quarter, a total of 15 of the hedge funds we track held long positions in this stock, a change of 15% from one quarter earlier. With the smart money’s capital changing hands, there exists a select group of noteworthy hedge fund managers who were upping their holdings considerably.
When using filings from the hedgies we track, Select Equity Group, managed by Robert Joseph Caruso, holds the biggest position in Paychex, Inc. (NASDAQ:PAYX). Select Equity Group has a $101.4 million position in the stock, comprising 1.4% of its 13F portfolio. On Select Equity Group’s heels is Clint Carlson of Carlson Capital, with a $42.7 million position; 0.5% of its 13F portfolio is allocated to the stock. Remaining hedge funds with similar optimism include David Harding’s Winton Capital Management, Phill Gross and Robert Atchinson’s Adage Capital Management and Matthew Hulsizer’s PEAK6 Capital Management.
With a general bullishness amongst the titans, particular hedge funds were leading the bulls’ herd. Select Equity Group, managed by Robert Joseph Caruso, established the largest position in Paychex, Inc. (NASDAQ:PAYX). Select Equity Group had 101.4 million invested in the company at the end of the quarter. Clint Carlson’s Carlson Capital also made a $42.7 million investment in the stock during the quarter. The following funds were also among the new PAYX investors: David Harding’s Winton Capital Management, Phill Gross and Robert Atchinson’s Adage Capital Management, and Matthew Hulsizer’s PEAK6 Capital Management.
Insider trading activity in Paychex, Inc. (NASDAQ:PAYX)
Insider buying is at its handiest when the company in question has seen transactions within the past 180 days. Over the latest six-month time period, Paychex, Inc. (NASDAQ:PAYX) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Paychex, Inc. (NASDAQ:PAYX). These stocks are On Assignment, Inc. (NYSE:ASGN), 51job, Inc. (ADR) (NASDAQ:JOBS), Team Health Holdings LLC (NYSE:TMH), Manpowergroup Inc (NYSE:MAN), and Robert Half International Inc. (NYSE:RHI). This group of stocks belong to the staffing & outsourcing services industry and their market caps resemble PAYX’s market cap.