Paychex, Inc. (NASDAQ:PAYX) Stock Holdings Lowered by Shoker Investment Counsel Inc.

Shoker Investment Counsel Inc. trimmed its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,935 shares of the business services provider’s stock after selling 543 shares during the period. Shoker Investment Counsel Inc.’s holdings in Paychex were worth $3,212,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. CVA Family Office LLC grew its stake in Paychex by 5.6% during the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 74 shares in the last quarter. Fortitude Family Office LLC increased its stake in Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after buying an additional 74 shares during the period. Kanawha Capital Management LLC increased its stake in Paychex by 1.8% in the 3rd quarter. Kanawha Capital Management LLC now owns 4,283 shares of the business services provider’s stock valued at $575,000 after buying an additional 75 shares during the period. Daymark Wealth Partners LLC lifted its position in Paychex by 0.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock worth $1,167,000 after buying an additional 82 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Paychex by 1.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 7,362 shares of the business services provider’s stock valued at $873,000 after buying an additional 85 shares during the period. 83.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PAYX shares. UBS Group increased their price objective on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Citigroup increased their price objective on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. TD Cowen upped their price target on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on shares of Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada upped their price objective on shares of Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, Paychex has an average rating of “Hold” and a consensus price target of $130.77.

Insiders Place Their Bets

In other news, VP Michael E. Gioja sold 26,428 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total value of $3,674,284.84. Following the sale, the vice president now owns 14,515 shares of the company’s stock, valued at approximately $2,018,020.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Paychex news, VP Michael E. Gioja sold 14,731 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $139.18, for a total value of $2,050,260.58. Following the completion of the transaction, the vice president now directly owns 14,515 shares of the company’s stock, valued at approximately $2,020,197.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael E. Gioja sold 26,428 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the sale, the vice president now directly owns 14,515 shares in the company, valued at $2,018,020.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,174 shares of company stock worth $7,577,231 over the last three months. 11.40% of the stock is currently owned by corporate insiders.

Paychex Stock Performance

PAYX opened at $148.57 on Friday. Paychex, Inc. has a 1 year low of $113.70 and a 1 year high of $149.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $137.75 and its 200-day simple moving average is $128.25. The stock has a market cap of $53.47 billion, a PE ratio of 31.68, a P/E/G ratio of 4.08 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is 83.58%.

Paychex Company Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.