Paychex, Inc. (NASDAQ:PAYX) Holdings Raised by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. grew its position in Paychex, Inc. (NASDAQ:PAYX) by 6.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,947 shares of the business services provider’s stock after acquiring an additional 3,612 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Paychex were worth $5,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in Paychex by 9.7% during the 2nd quarter. BlackRock Inc. now owns 34,524,333 shares of the business services provider’s stock valued at $2,841,008,000 after purchasing an additional 3,058,635 shares during the period. Nuveen Asset Management LLC boosted its position in Paychex by 15,792.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,299,048 shares of the business services provider’s stock valued at $106,899,000 after purchasing an additional 1,290,874 shares during the period. Wells Fargo & Company MN boosted its position in Paychex by 11.0% during the 2nd quarter. Wells Fargo & Company MN now owns 9,305,194 shares of the business services provider’s stock valued at $765,725,000 after purchasing an additional 919,406 shares during the period. APG Asset Management N.V. boosted its position in Paychex by 73.8% during the 2nd quarter. APG Asset Management N.V. now owns 1,756,381 shares of the business services provider’s stock valued at $126,917,000 after purchasing an additional 745,800 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in Paychex by 27.7% during the 2nd quarter. Bahl & Gaynor Inc. now owns 3,168,024 shares of the business services provider’s stock worth $260,697,000 after acquiring an additional 686,831 shares during the period. Institutional investors and hedge funds own 69.87% of the company’s stock.

PAYX has been the subject of a number of analyst reports. Morgan Stanley lowered Paychex from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $77.00 to $74.00 in a research report on Thursday, August 15th. ValuEngine lowered Paychex from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America lowered 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. Cowen initiated coverage on Paychex in a research report on Wednesday, September 11th. They set a “market perform” rating and a $74.00 price target for the company. Finally, Argus reiterated a “buy” rating and set a $92.00 price target on shares of Paychex in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Paychex presently has an average rating of “Hold” and a consensus target price of $79.33.

Shares of Paychex stock opened at $84.90 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.35. The firm has a market cap of $30.29 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 3.03 and a beta of 0.90. The business has a fifty day simple moving average of $82.42 and a 200-day simple moving average of $83.67. Paychex, Inc. has a fifty-two week low of $61.32 and a fifty-two week high of $88.43.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, October 2nd. The business services provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The business had revenue of $992.00 million during the quarter, compared to analyst estimates of $991.70 million. Paychex had a return on equity of 41.07% and a net margin of 27.04%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Analysts anticipate that Paychex, Inc. will post 3.11 earnings per share for the current fiscal year.

In other news, Director Pamela A. Joseph sold 12,156 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $85.52, for a total transaction of $1,039,581.12. Following the sale, the director now directly owns 18,893 shares of the company’s stock, valued at $1,615,729.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert L. Schrader sold 609 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $83.88, for a total value of $51,082.92. Following the sale, the vice president now directly owns 9,166 shares in the company, valued at $768,844.08. The disclosure for this sale can be found here. Insiders have sold 13,516 shares of company stock worth $1,153,665 over the last ninety days. 11.70% of the stock is owned by insiders.

About Paychex

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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