Paychex, Inc. (NASDAQ:PAYX) Holdings Cut by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA reduced its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 922,404 shares of the business services provider’s stock after selling 18,435 shares during the period. Paychex makes up 7.6% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its 5th biggest holding. Mcdonald Capital Investors Inc. CA owned about 0.26% of Paychex worth $123,777,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PAYX. Meeder Asset Management Inc. grew its position in Paychex by 286.0% during the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after buying an additional 163 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Paychex by 227.6% during the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after purchasing an additional 173 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Paychex in the second quarter worth approximately $30,000. Chilton Capital Management LLC purchased a new stake in Paychex in the first quarter valued at approximately $31,000. Finally, ESL Trust Services LLC bought a new stake in Paychex during the first quarter valued at approximately $31,000. Institutional investors own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PAYX shares. Jefferies Financial Group increased their price target on shares of Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Barclays increased their target price on Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. Morgan Stanley raised their price target on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price objective on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their price objective on Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat.com, Paychex presently has a consensus rating of “Hold” and a consensus target price of $130.77.

Paychex Stock Performance

Shares of PAYX stock opened at $148.03 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. Paychex, Inc. has a fifty-two week low of $112.34 and a fifty-two week high of $149.26. The company has a market capitalization of $53.28 billion, a P/E ratio of 31.68, a PEG ratio of 3.84 and a beta of 0.99. The stock has a 50 day moving average price of $137.06 and a two-hundred day moving average price of $127.93.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. Analysts expect that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, November 7th. This represents a $3.92 annualized dividend and a dividend yield of 2.65%. Paychex’s payout ratio is presently 83.58%.

Insider Activity at Paychex

In other news, VP Michael E. Gioja sold 14,731 shares of Paychex stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $139.18, for a total value of $2,050,260.58. Following the sale, the vice president now directly owns 14,515 shares in the company, valued at approximately $2,020,197.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Robert L. Schrader sold 13,015 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the transaction, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at $2,471,480.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael E. Gioja sold 14,731 shares of Paychex stock in a transaction that occurred on 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 sale, the vice president now directly owns 14,515 shares in the company, valued at approximately $2,020,197.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,174 shares of company stock worth $7,577,231 in the last 90 days. Company insiders own 11.40% of the company’s stock.

Paychex 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.