Gotham Asset Management LLC lessened its holdings in Paychex, Inc. (NASDAQ:PAYX) by 76.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 82,015 shares of the business services provider’s stock after selling 259,584 shares during the period. Gotham Asset Management LLC’s holdings in Paychex were worth $5,584,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Field & Main Bank purchased a new stake in shares of Paychex in the 4th quarter worth approximately $101,000. Acadian Asset Management LLC purchased a new stake in shares of Paychex in the 4th quarter worth approximately $109,000. Financial Gravity Companies Inc. purchased a new stake in shares of Paychex in the 4th quarter worth approximately $127,000. Avestar Capital LLC purchased a new stake in shares of Paychex in the 4th quarter worth approximately $126,000. Finally, Calton & Associates Inc. purchased a new stake in shares of Paychex in the 4th quarter worth approximately $151,000. 68.66% of the stock is owned by hedge funds and other institutional investors.
Paychex, Inc. (PAYX) opened at $61.73 on Monday. The company has a market cap of $22,172.55, a P/E ratio of 26.49, a P/E/G ratio of 3.24 and a beta of 0.96. Paychex, Inc. has a 52 week low of $54.20 and a 52 week high of $73.10.
Several equities research analysts have recently weighed in on PAYX shares. BidaskClub raised shares of Paychex from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. Bank of America upped their price target on shares of Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Citigroup raised shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target for the company in a research report on Monday, December 4th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $68.00 price target on shares of Paychex in a research report on Friday, December 22nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $70.00 price objective on shares of Paychex in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $63.93.
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Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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