Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,036 shares of the business services provider’s stock after selling 131 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Paychex were worth $1,129,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Archer Investment Corp acquired a new position in shares of Paychex in the 3rd quarter worth approximately $25,000. American National Bank lifted its holdings in shares of Paychex by 1,135.0% in the 3rd quarter. American National Bank now owns 247 shares of the business services provider’s stock worth $28,000 after acquiring an additional 227 shares during the last quarter. JNBA Financial Advisors acquired a new position in shares of Paychex in the 3rd quarter worth approximately $31,000. Herold Advisors Inc. acquired a new position in shares of Paychex in the 3rd quarter worth approximately $33,000. Finally, TCI Wealth Advisors Inc. lifted its holdings in shares of Paychex by 84.5% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 321 shares of the business services provider’s stock worth $36,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 69.85% of the company’s stock.

Several equities analysts have recently commented on PAYX shares. Stifel Nicolaus upped their price objective on shares of Paychex from $118.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, December 23rd. Barclays upped their target price on shares of Paychex from $115.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 23rd. Robert W. Baird upped their target price on shares of Paychex from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, October 4th. BMO Capital Markets upped their target price on shares of Paychex from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Friday, October 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Paychex from $103.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, October 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $121.21.

Shares of NASDAQ:PAYX traded down $0.39 during trading hours on Friday, reaching $126.24. The stock had a trading volume of 13,244 shares, compared to its average volume of 1,863,022. Paychex, Inc. has a 1 year low of $85.30 and a 1 year high of $138.96. The firm’s 50 day moving average is $126.62 and its 200-day moving average is $118.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market capitalization of $45.54 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 4.73 and a beta of 0.93.

Paychex (NASDAQ:PAYX) last posted its earnings results on Wednesday, December 22nd. The business services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.11. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Paychex had a net margin of 29.53% and a return on equity of 41.78%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. Analysts forecast that Paychex, Inc. will post 3.63 EPS for the current year.

In related news, insider Stephanie L. Schaeffer sold 103,029 shares of the stock in a transaction on Monday, December 27th. The shares were sold at an average price of $134.35, for a total value of $13,841,946.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Martin Mucci sold 150,000 shares of the stock in a transaction on Monday, December 27th. The stock was sold at an average price of $134.31, for a total transaction of $20,146,500.00. The disclosure for this sale can be found here. Insiders sold a total of 257,586 shares of company stock worth $34,549,139 over the last ninety days. Insiders own 11.50% of the company’s stock.

Paychex Company Profile

Paychex, Inc engages in the provision of human capital management solutions for payroll, human resource, insurance and retirement for small and medium sized businesses. Its solutions include payroll services, hiring services, business insurance, time and attendance, employee benefits, finance and payments, human resources services and startup services.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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