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

Mcdonald Capital Investors Inc. CA lowered its stake in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 922,404 shares of the business services provider's stock after selling 18,435 shares during the period. Paychex makes up approximately 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 reporting period.

A number of other institutional investors have also modified their holdings of PAYX. Meeder Asset Management Inc. increased its holdings in shares of Paychex by 286.0% in the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider's stock valued at $26,000 after purchasing an additional 163 shares during the period. ORG Partners LLC raised its position in Paychex by 227.6% in the second quarter. ORG Partners LLC now owns 249 shares of the business services provider's stock worth $29,000 after acquiring an additional 173 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Paychex in the second quarter worth $30,000. Chilton Capital Management LLC purchased a new position in Paychex in the first quarter worth $31,000. Finally, ESL Trust Services LLC purchased a new position in Paychex in the first quarter worth $31,000. Institutional investors and hedge funds own 83.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on PAYX shares. UBS Group increased their price objective on Paychex from $125.00 to $142.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. TD Cowen increased their price objective on Paychex from $126.00 to $131.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on Paychex from $118.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Monday, September 23rd. Jefferies Financial Group raised their price target on Paychex from $120.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. Finally, Citigroup raised their price target on Paychex from $125.00 to $145.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, Paychex presently has an average rating of "Hold" and an average target price of $130.77.

Paychex Price Performance

Shares of PAYX traded down $2.04 during trading hours on Thursday, reaching $146.55. 1,593,059 shares of the company traded hands, compared to its average volume of 1,788,516. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $52.74 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 3.84 and a beta of 0.99. Paychex, Inc. has a fifty-two week low of $112.34 and a fifty-two week high of $149.26. The stock has a fifty day simple moving average of $137.06 and a 200 day simple moving average of $127.93.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data 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. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $1.14 earnings per share. The business'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 EPS for the current fiscal year.

Paychex Announces Dividend

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 paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex's payout ratio is 83.58%.

Insiders Place Their Bets

In other Paychex 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 sale, the vice president now directly owns 14,515 shares of the company's stock, valued at approximately $2,018,020.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the transaction, the chief financial officer now directly owns 17,362 shares of the company's stock, valued at $2,471,480.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael E. Gioja sold 26,428 shares of Paychex stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total value of $3,674,284.84. Following the completion of the transaction, the vice president now directly owns 14,515 shares in the company, valued at $2,018,020.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,174 shares of company stock valued at $7,577,231. 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.