Willis Investment Counsel Lowers stake in Paychex (PAYX)

Paychex (PAYX) : Willis Investment Counsel reduced its stake in Paychex by 9.4% during the most recent quarter end. The investment management company now holds a total of 287,250 shares of Paychex which is valued at $17,243,618 after selling 29,800 shares in Paychex , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Paychex makes up approximately 1.43% of Willis Investment Counsel’s portfolio.

Other Hedge Funds, Including , Alliancebernstein reduced its stake in PAYX by selling 28,450 shares or 4.63% in the most recent quarter. The Hedge Fund company now holds 586,558 shares of PAYX which is valued at $35,211,077. Paychex makes up approx 0.03% of Alliancebernstein’s portfolio. Chicago Partners Investment Group added PAYX to its portfolio by purchasing 1,200 company shares during the most recent quarter which is valued at $71,880. Paychex makes up approx 0.03% of Chicago Partners Investment Group’s portfolio.Welch Forbes reduced its stake in PAYX by selling 1,308 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 760,991 shares of PAYX which is valued at $44,525,583. Paychex makes up approx 1.32% of Welch Forbes’s portfolio.Mizuho Trust Banking Ltd. reduced its stake in PAYX by selling 2,512 shares or 0.51% in the most recent quarter. The Hedge Fund company now holds 494,830 shares of PAYX which is valued at $28,952,503. Paychex makes up approx 0.09% of Mizuho Trust Banking Ltd.’s portfolio.Albert D Mason Inc boosted its stake in PAYX in the latest quarter, The investment management firm added 256 additional shares and now holds a total of 47,682 shares of Paychex which is valued at $2,885,238. Paychex makes up approx 1.76% of Albert D Mason Inc’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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