Bahl Gaynor Inc Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Bahl Gaynor Inc reduced its stake in Paychex by 3.08% during the most recent quarter end. The investment management company now holds a total of 3,047,621 shares of Paychex which is valued at $182,948,689 after selling 96,876 shares in Paychex , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Paychex makes up approximately 2.31% of Bahl Gaynor Inc’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors boosted its stake in PAYX in the latest quarter, The investment management firm added 1,030,300 additional shares and now holds a total of 10,110,305 shares of Paychex which is valued at $606,921,609. Paychex makes up approx 0.13% of Blackrock Fund Advisors’s portfolio.Opus Capital Group reduced its stake in PAYX by selling 1,315 shares or 5.43% in the most recent quarter. The Hedge Fund company now holds 22,910 shares of PAYX which is valued at $1,359,938. Paychex makes up approx 0.29% of Opus Capital Group’s portfolio.Baring Asset Management Ltd reduced its stake in PAYX by selling 4,469 shares or 49.69% in the most recent quarter. The Hedge Fund company now holds 4,525 shares of PAYX which is valued at $272,631. Paychex makes up approx 0.02% of Baring Asset Management Ltd’s portfolio.Capital One National Association boosted its stake in PAYX in the latest quarter, The investment management firm added 1,966 additional shares and now holds a total of 27,764 shares of Paychex which is valued at $1,680,000. Paychex makes up approx 0.13% of Capital One National Association’s portfolio.

Paychex opened for trading at $59.74 and hit $60.17 on the upside on Friday, eventually ending the session at $60.15, with a gain of 0.53% or 0.32 points. The heightened volatility saw the trading volume jump to 19,74,883 shares. Company has a market cap of $21,686 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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