Wrapmanager Inc. Decreases Stake in Paychex, Inc. (PAYX)

Wrapmanager Inc. lowered its stake in Paychex, Inc. (NASDAQ:PAYX) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 4,318 shares of the company’s stock after selling 17 shares during the period. Wrapmanager Inc.’s holdings in Paychex were worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation increased its position in Paychex by 683.0% in the second quarter. Zions Bancorporation now owns 1,754 shares of the company’s stock valued at $105,000 after buying an additional 1,530 shares during the last quarter. Motco increased its position in Paychex by 17.4% in the third quarter. Motco now owns 1,861 shares of the company’s stock valued at $108,000 after buying an additional 276 shares during the last quarter. Financial Architects Inc increased its position in Paychex by 4.1% in the third quarter. Financial Architects Inc now owns 1,914 shares of the company’s stock valued at $111,000 after buying an additional 76 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in Paychex by 4.2% in the third quarter. Ropes Wealth Advisors LLC now owns 1,921 shares of the company’s stock valued at $111,000 after buying an additional 78 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased its position in Paychex by 4.6% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,068 shares of the company’s stock valued at $120,000 after buying an additional 90 shares during the last quarter. Institutional investors own 69.28% of the company’s stock.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

Paychex, Inc. (NASDAQ:PAYX) opened at 59.04 on Tuesday. The firm has a market cap of $21.19 billion, a PE ratio of 27.46 and a beta of 0.86. Paychex, Inc. has a one year low of $48.63 and a one year high of $62.18. The stock has a 50 day moving average price of $60.36 and a 200 day moving average price of $58.85.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Wednesday, December 21st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Paychex had a net margin of 25.40% and a return on equity of 41.00%. The business earned $771.40 million during the quarter, compared to the consensus estimate of $778.99 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts expect that Paychex, Inc. will post $2.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, January 30th. Paychex’s dividend payout ratio is presently 85.58%.

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Several research analysts have commented on the company. Royal Bank Of Canada raised their price objective on Paychex from $53.00 to $54.00 and gave the stock an “underperform” rating in a report on Thursday, December 22nd. Deutsche Bank AG reiterated a “hold” rating and issued a $62.00 price target (up from $56.00) on shares of Paychex in a report on Friday, December 23rd. Wells Fargo & Company reiterated a “market perform” rating and issued a $61.00 price target (up from $57.00) on shares of Paychex in a report on Friday, December 23rd. RBC Capital Markets set a $55.00 price target on Paychex and gave the company a “sell” rating in a report on Saturday, January 21st. Finally, Compass Point lifted their price target on Paychex from $45.00 to $48.00 and gave the company a “sell” rating in a report on Thursday, December 22nd. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $57.00.

In other Paychex news, VP Jennifer R. Vossler sold 5,876 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $62.01, for a total value of $364,370.76. Following the completion of the transaction, the vice president now owns 23,483 shares in the company, valued at approximately $1,456,180.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael E. Gioja sold 24,726 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $60.72, for a total transaction of $1,501,362.72. Following the completion of the transaction, the insider now owns 55,984 shares of the company’s stock, valued at approximately $3,399,348.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,202 shares of company stock valued at $4,290,754. Insiders own 11.60% of the company’s stock.

About Paychex

Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.

5 Day Chart for NASDAQ:PAYX

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX).

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