Rfg Advisory Group Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Rfg Advisory Group reduced its stake in Paychex by 10.09% during the most recent quarter end. The investment management company now holds a total of 9,147 shares of Paychex which is valued at $535,191 after selling 1,026 shares in Paychex , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Paychex makes up approximately 0.46% of Rfg Advisory Group’s portfolio.

Other Hedge Funds, Including , Cidel Asset Management Inc reduced its stake in PAYX by selling 5,020 shares or 21.43% in the most recent quarter. The Hedge Fund company now holds 18,409 shares of PAYX which is valued at $1,077,111. Paychex makes up approx 0.06% of Cidel Asset Management Inc’s portfolio.Boston Private Wealth boosted its stake in PAYX in the latest quarter, The investment management firm added 3,185 additional shares and now holds a total of 38,602 shares of Paychex which is valued at $2,258,603. Paychex makes up approx 0.09% of Boston Private Wealth’s portfolio.Tocqueville Asset Management reduced its stake in PAYX by selling 570 shares or 3.94% in the most recent quarter. The Hedge Fund company now holds 13,914 shares of PAYX which is valued at $824,822. Paychex makes up approx 0.01% of Tocqueville Asset Management’s portfolio.Spectrum Management Group boosted its stake in PAYX in the latest quarter, The investment management firm added 5,415 additional shares and now holds a total of 8,385 shares of Paychex which is valued at $497,063. Paychex makes up approx 0.20% of Spectrum Management Group’s portfolio.Paragon Capital Management reduced its stake in PAYX by selling 2,276 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 186,788 shares of PAYX which is valued at $11,345,503. Paychex makes up approx 3.89% of Paragon Capital Management’s portfolio.

Paychex closed down -0.28 points or -0.47% at $59.08 with 13,89,463 shares getting traded on Monday. Post opening the session at $59.33, the shares hit an intraday low of $58.96 and an intraday high of $59.3535 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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