U.S. Capital Wealth Advisors LLC Sells 2,851 Shares of Paychex, Inc. (NASDAQ:PAYX)

U.S. Capital Wealth Advisors LLC trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 3.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 74,848 shares of the business services provider’s stock after selling 2,851 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Paychex were worth $10,044,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PAYX. Columbus Macro LLC purchased a new position in Paychex during the 1st quarter valued at about $818,000. Kingswood Wealth Advisors LLC lifted its position in Paychex by 30.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,490 shares of the business services provider’s stock valued at $429,000 after acquiring an additional 822 shares during the period. Elevated Capital Advisors LLC lifted its position in Paychex by 9.8% during the 1st quarter. Elevated Capital Advisors LLC now owns 6,415 shares of the business services provider’s stock valued at $788,000 after acquiring an additional 571 shares during the period. Sunbelt Securities Inc. grew its holdings in Paychex by 4.1% in the first quarter. Sunbelt Securities Inc. now owns 4,919 shares of the business services provider’s stock worth $604,000 after purchasing an additional 196 shares during the period. Finally, Brookstone Capital Management increased its stake in shares of Paychex by 37.6% during the first quarter. Brookstone Capital Management now owns 2,418 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PAYX. Jefferies Financial Group raised their price objective on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen lifted their price target on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Robert W. Baird cut their price objective on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. JPMorgan Chase & Co. lifted their target price on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada increased their price target on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, Paychex currently has an average rating of “Hold” and a consensus price target of $130.77.

Paychex Stock Performance

NASDAQ:PAYX traded down $0.12 on Wednesday, hitting $141.22. The stock had a trading volume of 232,042 shares, compared to its average volume of 1,790,634. The business’s 50-day simple moving average is $134.03 and its two-hundred day simple moving average is $126.50. The stock has a market cap of $50.83 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 3.89 and a beta of 1.00. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $144.17. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.78%. Paychex’s dividend payout ratio is presently 83.58%.

Insider Transactions at Paychex

In other Paychex news, VP Michael E. Gioja sold 14,731 shares of the company’s 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 completion of the transaction, the vice president now directly owns 14,515 shares in the company, valued at $2,020,197.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Paychex news, VP Michael E. Gioja sold 26,428 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the completion of the transaction, the vice president now owns 14,515 shares in the company, valued at $2,018,020.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael E. Gioja sold 14,731 shares of the company’s 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 $2,020,197.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,223 shares of company stock valued at $10,592,156 over the last 90 days. Company insiders own 11.40% of the company’s stock.

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.