Krasney Financial Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Krasney Financial reduced its stake in Paychex by 8.42% during the most recent quarter end. The investment management company now holds a total of 136,472 shares of Paychex which is valued at $8,192,414 after selling 12,555 shares in Paychex , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Paychex makes up approximately 1.83% of Krasney Financial’s portfolio.

Other Hedge Funds, Including , Meiji Yasuda Asset Management Co Ltd. boosted its stake in PAYX in the latest quarter, The investment management firm added 31,870 additional shares and now holds a total of 37,328 shares of Paychex which is valued at $2,240,800. Paychex makes up approx 0.31% of Meiji Yasuda Asset Management Co Ltd.’s portfolio.Shell Asset Management Co boosted its stake in PAYX in the latest quarter, The investment management firm added 1,006 additional shares and now holds a total of 247,375 shares of Paychex which is valued at $14,904,344. Paychex makes up approx 0.34% of Shell Asset Management Co’s portfolio.Ibm Retirement Fund boosted its stake in PAYX in the latest quarter, The investment management firm added 4,084 additional shares and now holds a total of 42,207 shares of Paychex which is valued at $2,563,653. Paychex makes up approx 0.09% of Ibm Retirement Fund’s portfolio.Nikko Asset Management Americas boosted its stake in PAYX in the latest quarter, The investment management firm added 5,400 additional shares and now holds a total of 16,200 shares of Paychex which is valued at $980,262. Paychex makes up approx 0.09% of Nikko Asset Management Americas’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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