1,507 Shares in Paychex, Inc. (NASDAQ:PAYX) Bought by CX Institutional

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CX Institutional acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,507 shares of the business services provider’s stock, valued at approximately $125,000.

Several other large investors have also recently made changes to their positions in PAYX. Enterprise Financial Services Corp increased its stake in shares of Paychex by 21.1% in the second quarter. Enterprise Financial Services Corp now owns 723 shares of the business services provider’s stock worth $59,000 after purchasing an additional 126 shares during the period. Greenleaf Trust increased its stake in shares of Paychex by 3.8% in the second quarter. Greenleaf Trust now owns 3,636 shares of the business services provider’s stock worth $299,000 after purchasing an additional 134 shares during the period. Rockland Trust Co. increased its stake in shares of Paychex by 2.6% in the second quarter. Rockland Trust Co. now owns 5,497 shares of the business services provider’s stock worth $452,000 after purchasing an additional 138 shares during the period. Advisor Partners LLC increased its stake in shares of Paychex by 1.6% in the second quarter. Advisor Partners LLC now owns 8,774 shares of the business services provider’s stock worth $722,000 after purchasing an additional 140 shares during the period. Finally, Geneva Partners LLC increased its stake in shares of Paychex by 1.8% in the second quarter. Geneva Partners LLC now owns 8,530 shares of the business services provider’s stock worth $702,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 69.73% of the company’s stock.

PAYX stock opened at $84.63 on Friday. Paychex, Inc. has a twelve month low of $61.32 and a twelve month high of $88.43. The company has a market cap of $30.29 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.94 and a beta of 0.90. The business’s 50-day simple moving average is $82.19 and its 200 day simple moving average is $83.59. The company has a quick ratio of 1.17, a current ratio of 1.15 and a debt-to-equity ratio of 0.35.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, October 2nd. The business services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Paychex had a return on equity of 41.07% and a net margin of 27.04%. The business had revenue of $992.00 million for the quarter, compared to the consensus estimate of $991.70 million. During the same period last year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that Paychex, Inc. will post 3.11 EPS for the current year.

A number of equities analysts have recently commented on the company. Cowen assumed coverage on Paychex in a research note on Wednesday, September 11th. They issued a “market perform” rating and a $74.00 price objective on the stock. Bank of America downgraded Paychex from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 26th. They noted that the move was a valuation call. BidaskClub downgraded Paychex from a “buy” rating to a “hold” rating in a research report on Saturday, August 24th. ValuEngine downgraded Paychex from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley downgraded Paychex from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $77.00 to $74.00 in a research report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $79.33.

In other Paychex news, VP Robert L. Schrader sold 609 shares of Paychex stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $83.88, for a total transaction of $51,082.92. Following the sale, the vice president now directly owns 9,166 shares of the company’s stock, valued at $768,844.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert L. Schrader sold 751 shares of Paychex stock in a transaction that occurred on Saturday, August 3rd. The shares were sold at an average price of $83.89, for a total value of $63,001.39. Following the sale, the vice president now directly owns 9,166 shares in the company, valued at $768,935.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,516 shares of company stock worth $1,153,665. 11.70% of the stock is owned by company insiders.

Paychex Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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