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.
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.
