Mcdonald Capital Investors Inc. CA Reduces Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Mcdonald Capital Investors Inc. CA trimmed its holdings in Paychex, Inc. (NASDAQ:PAYX) by 2.0% in the 3rd quarter, Holdings Channel reports. The fund owned 922,404 shares of the business services provider’s stock after selling 18,435 shares during the quarter. Paychex accounts for about 7.6% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 5th biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Paychex were worth $123,777,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PAYX. Norden Group LLC purchased a new position in shares of Paychex during the first quarter valued at approximately $231,000. Larson Financial Group LLC raised its stake in Paychex by 201.7% during the first quarter. Larson Financial Group LLC now owns 528 shares of the business services provider’s stock valued at $65,000 after buying an additional 353 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Paychex by 3.8% in the first quarter. Geneos Wealth Management Inc. now owns 2,543 shares of the business services provider’s stock worth $312,000 after acquiring an additional 92 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Paychex by 3.1% in the first quarter. Advisory Services Network LLC now owns 30,020 shares of the business services provider’s stock worth $3,686,000 after acquiring an additional 900 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Paychex by 3.5% during the first quarter. Empirical Finance LLC now owns 11,577 shares of the business services provider’s stock valued at $1,422,000 after acquiring an additional 396 shares in the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PAYX. TD Cowen upped their price target on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. UBS Group upped their target price on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price target on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price objective on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their target price on Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $130.77.

Insider Transactions at Paychex

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

Paychex Stock Down 0.4 %

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

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

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, November 7th. Paychex’s payout ratio is 83.58%.

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.