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

Douglass Winthrop Advisors LLC cut its stake in Paychex, Inc. (NASDAQ:PAYX) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,036 shares of the business services provider’s stock after selling 131 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Paychex were worth $1,129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYX. Handelsbanken Fonder AB lifted its position in Paychex by 31.3% during the third quarter. Handelsbanken Fonder AB now owns 50,042 shares of the business services provider’s stock valued at $5,627,000 after buying an additional 11,930 shares in the last quarter. Rafferty Asset Management LLC lifted its position in Paychex by 12.2% during the third quarter. Rafferty Asset Management LLC now owns 96,954 shares of the business services provider’s stock valued at $10,902,000 after buying an additional 10,558 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Paychex by 380.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 98,361 shares of the business services provider’s stock valued at $11,074,000 after buying an additional 77,896 shares in the last quarter. Forsta AP Fonden lifted its position in Paychex by 20.2% during the third quarter. Forsta AP Fonden now owns 81,400 shares of the business services provider’s stock valued at $9,153,000 after buying an additional 13,700 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in Paychex by 83.4% during the third quarter. Orion Portfolio Solutions LLC now owns 6,856 shares of the business services provider’s stock valued at $771,000 after buying an additional 3,117 shares in the last quarter. 69.85% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Efrain Rivera sold 747 shares of the company’s stock in a transaction dated Wednesday, December 8th. The shares were sold at an average price of $123.04, for a total value of $91,910.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Martin Mucci sold 3,219 shares of the company’s stock in a transaction dated Wednesday, December 8th. The stock was sold at an average price of $123.04, for a total transaction of $396,065.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 257,586 shares of company stock valued at $34,549,139. Corporate insiders own 11.50% of the company’s stock.

PAYX stock traded down $0.39 during trading on Friday, hitting $126.24. 13,244 shares of the company’s stock traded hands, compared to its average volume of 1,863,022. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.26. Paychex, Inc. has a 52 week low of $85.30 and a 52 week high of $138.96. The stock has a fifty day moving average price of $126.62 and a two-hundred day moving average price of $118.58. The stock has a market capitalization of $45.54 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 4.73 and a beta of 0.93.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, December 22nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. Paychex had a net margin of 29.53% and a return on equity of 41.78%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts expect that Paychex, Inc. will post 3.63 EPS for the current fiscal year.

PAYX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Paychex from $103.00 to $115.00 and gave the company a “hold” rating in a research report on Friday, October 1st. Cowen raised shares of Paychex from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $130.00 to $145.00 in a research report on Tuesday. Citigroup reduced their target price on shares of Paychex to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 13th.
Barclays boosted their target price on shares of Paychex from $115.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 23rd. Finally, Morgan Stanley boosted their target price on shares of Paychex from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Paychex presently has a consensus rating of “Hold” and an average price target of $121.21.

Paychex 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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