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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Paychex (PAYX) : In an exclusive interview, Cramer checked in with Marty Mucci, president and CEO of payroll processor Paychex, which reported a 7% rise in revenue. Shares of Paychex currently sport a 3.1% dividend yield.
Mucci said Paychex saw a solid quarter with good growth in the mid-market, which he defines as companies with over 50 employees. He said small business job growth is growing as well.
When asked for specifics about where the growth is coming from, Mucci said discretionary spending on things like hospitality and leisure is strong and construction is also picking up in the south and west coast.
Mucci also touted Paychex human resource services as another area of growth. As regulations increase for things such as overtime and the Affordable Care Act, companies of all sizes are looking for help to remain in compliance, he said.
Cramer called Paychex a good company with a good yield and growth prospects.
Xerox (XRX) : In his "Off the Charts" segment, Cramer checked in with colleague Bruce Kamich over the chart of Xerox , the document and services company that has all but been forgotten by many investors.
Looking at a daily chart of Xerox, Kamich noted the stock's bullish double bottom formation, which has propelled it above both the 50-day and 200-day moving averages. Better still, Kamich called out the on-balance volume indicator, a measure of momentum, which has been steadily rising since January.
As for the fundamentals, Cramer said that when Xerox announced it was splitting itself in two earlier this year, he largely dismissed it given the company's declining businesses. But upon further review, he said the deal actually unlocks a lot of value given how strong business outsourcing services are for Xerox.
Add that to the company's proposed $600 million in cost cutting and its low valuation of just 9.2 times estimates and Cramer said Xerox could easily get to Kamich's price target of $13 a share and beyond.
Service Corp (SCI) : In his second exclusive interview, Cramer sat down with Tom Ryan, chairman and CEO of Service Corp, the funeral home and cemetery operator with 2,000 locations across the U.S. and Canada. Shares of Service Corp are down 6% so far this year.
Ryan said the vast majority of funeral homes are still family-owned businesses and when those business are up for sale, Service Corp is happy to acquire them. Otherwise, he said, they're happy using their excess capital to buy back stock and reward their shareholders.
When asked about their business, Ryan said Service Corp's job is to make the grieving process as easy as possible, and that comes from a deep understanding of the differences between different cultures and religions and catering to the needs of everyone.
Cramer said Service Corp has consistently beaten the markets and has accelerating growth.
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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.