Crawford Investment Counsel Inc Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Crawford Investment Counsel Inc reduced its stake in Paychex by 10.81% during the most recent quarter end. The investment management company now holds a total of 788,024 shares of Paychex which is valued at $47,305,081 after selling 95,525 shares in Paychex , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Paychex makes up approximately 1.82% of Crawford Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds boosted its stake in PAYX in the latest quarter, The investment management firm added 673 additional shares and now holds a total of 5,389 shares of Paychex which is valued at $323,502.Anchor Capital Advisors reduced its stake in PAYX by selling 690 shares or 9.5% in the most recent quarter. The Hedge Fund company now holds 6,570 shares of PAYX which is valued at $384,411. Paychex makes up approx 0.01% of Anchor Capital Advisors’s portfolio.Alps Advisors Inc reduced its stake in PAYX by selling 552 shares or 6.87% in the most recent quarter. The Hedge Fund company now holds 7,479 shares of PAYX which is valued at $450,610. Jfs Wealth Advisors sold out all of its stake in PAYX during the most recent quarter. The investment firm sold 16 shares of PAYX which is valued $964.Sigma Planning Corp boosted its stake in PAYX in the latest quarter, The investment management firm added 2,953 additional shares and now holds a total of 23,645 shares of Paychex which is valued at $1,436,197. Paychex makes up approx 0.18% of Sigma Planning Corp’s portfolio.

Paychex opened for trading at $60.69 and hit $60.87 on the upside on Tuesday, eventually ending the session at $60.65, with a gain of 0.45% or 0.27 points. The heightened volatility saw the trading volume jump to 11,71,107 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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