Paychex, Inc. (PAYX) Holdings Decreased by Smith Salley & Associates

Smith Salley & Associates lowered its holdings in Paychex, Inc. (NASDAQ:PAYX) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 28,516 shares of the business services provider’s stock after selling 1,596 shares during the quarter. Smith Salley & Associates’ holdings in Paychex were worth $1,858,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Paychex by 6.9% in the third quarter. BlackRock Inc. now owns 26,469,529 shares of the business services provider’s stock worth $1,949,481,000 after acquiring an additional 1,697,545 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Paychex by 1.5% during the third quarter. Vanguard Group Inc. now owns 25,237,021 shares of the business services provider’s stock worth $1,858,708,000 after buying an additional 363,583 shares during the period. Vanguard Group Inc boosted its position in Paychex by 1.5% during the third quarter. Vanguard Group Inc now owns 25,237,021 shares of the business services provider’s stock valued at $1,858,708,000 after purchasing an additional 363,583 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Paychex by 1,614,724.4% during the third quarter. Bank of New York Mellon Corp now owns 8,477,828 shares of the business services provider’s stock valued at $624,389,000 after purchasing an additional 8,477,303 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Paychex by 2.9% during the third quarter. Wells Fargo & Company MN now owns 8,429,147 shares of the business services provider’s stock valued at $620,806,000 after purchasing an additional 238,854 shares during the last quarter. Hedge funds and other institutional investors own 71.23% of the company’s stock.

In other news, VP Jennifer R. Vossler sold 6,000 shares of the stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $69.37, for a total transaction of $416,220.00. Following the completion of the sale, the vice president now directly owns 27,701 shares in the company, valued at $1,921,618.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jennifer R. Vossler sold 10,755 shares of the stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $72.95, for a total transaction of $784,577.25. Following the sale, the vice president now owns 32,456 shares of the company’s stock, valued at $2,367,665.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,755 shares of company stock worth $4,816,797. Insiders own 11.80% of the company’s stock.



A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Paychex from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 22nd. Barclays initiated coverage on Paychex in a research note on Wednesday, November 14th. They issued an “equal weight” rating and a $70.00 price target on the stock. Bank of America upgraded Paychex from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $64.00 to $68.00 in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Paychex in a report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $72.60.

Paychex stock opened at $74.26 on Monday. Paychex, Inc. has a 12 month low of $59.36 and a 12 month high of $76.02. The company has a market capitalization of $26.67 billion, a P/E ratio of 29.12, a PEG ratio of 2.97 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, December 19th. The business services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $858.90 million for the quarter, compared to the consensus estimate of $860.61 million. Paychex had a return on equity of 41.61% and a net margin of 27.99%. Paychex’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. As a group, equities analysts expect that Paychex, Inc. will post 2.86 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, February 1st will be issued a $0.56 dividend. The ex-dividend date is Thursday, January 31st. This represents a $2.24 annualized dividend and a dividend yield of 3.02%. Paychex’s payout ratio is currently 87.84%.

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Paychex Company 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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