W.g. Shaheen Associates Dba Whitney Co Lowers stake in Paychex (PAYX)

Paychex (PAYX) : W.g. Shaheen Associates Dba Whitney Co reduced its stake in Paychex by 1.21% during the most recent quarter end. The investment management company now holds a total of 146,352 shares of Paychex which is valued at $8,889,420 after selling 1,800 shares in Paychex , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.Paychex makes up approximately 3.50% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Trust Co Fsbmo reduced its stake in PAYX by selling 335 shares or 1.87% in the most recent quarter. The Hedge Fund company now holds 17,615 shares of PAYX which is valued at $1,069,935. Paychex makes up approx 0.01% of Tiaa Cref Trust Co Fsbmo’s portfolio.Bath Savings Trust Co boosted its stake in PAYX in the latest quarter, The investment management firm added 8,055 additional shares and now holds a total of 28,104 shares of Paychex which is valued at $1,707,037. Paychex makes up approx 0.52% of Bath Savings Trust Co’s portfolio. Concorde Asset Management added PAYX to its portfolio by purchasing 4,456 company shares during the most recent quarter which is valued at $270,657. Paychex makes up approx 0.26% of Concorde Asset Management’s portfolio. Barometer Capital Management sold out all of its stake in PAYX during the most recent quarter. The investment firm sold 349,700 shares of PAYX which is valued $21,247,772.Gateway Investment Advisers reduced its stake in PAYX by selling 73,156 shares or 15.94% in the most recent quarter. The Hedge Fund company now holds 385,771 shares of PAYX which is valued at $23,574,466. Paychex makes up approx 0.20% of Gateway Investment Advisers’s portfolio.

Paychex closed down -1.05 points or -1.74% at $59.2 with 23,78,199 shares getting traded on Thursday. Post opening the session at $59.68, the shares hit an intraday low of $58.93 and an intraday high of $59.72 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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