Country Club Trust Company n.a. Sells 300 Shares of Paychex, Inc. (NASDAQ:PAYX)

Country Club Trust Company n.a. lessened its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,887 shares of the business services provider’s stock after selling 300 shares during the period. Country Club Trust Company n.a.’s holdings in Paychex were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Hall Capital Management Co. Inc. increased its position in Paychex by 0.4% in the third quarter. Hall Capital Management Co. Inc. now owns 21,761 shares of the business services provider’s stock worth $2,447,000 after purchasing an additional 85 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Paychex by 1.0% during the second quarter. Brown Brothers Harriman & Co. now owns 8,750 shares of the business services provider’s stock valued at $939,000 after acquiring an additional 88 shares during the last quarter. Fieldpoint Private Securities LLC increased its position in Paychex by 9.3% during the second quarter. Fieldpoint Private Securities LLC now owns 1,090 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 93 shares during the last quarter. Venture Visionary Partners LLC increased its position in Paychex by 2.0% during the second quarter. Venture Visionary Partners LLC now owns 4,852 shares of the business services provider’s stock valued at $520,000 after acquiring an additional 94 shares during the last quarter. Finally, Professional Advisory Services Inc. increased its position in Paychex by 2.3% during the third quarter. Professional Advisory Services Inc. now owns 4,205 shares of the business services provider’s stock valued at $473,000 after acquiring an additional 95 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of Paychex stock opened at $125.08 on Thursday. The company has a market capitalization of $45.10 billion, a PE ratio of 37.12, a P/E/G ratio of 4.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.27. The company has a 50-day simple moving average of $119.07 and a two-hundred day simple moving average of $112.25. Paychex, Inc. has a one year low of $85.30 and a one year high of $126.82.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, September 29th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.09. Paychex had a net margin of 28.98% and a return on equity of 40.40%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities analysts predict that Paychex, Inc. will post 3.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 29th. Investors of record on Monday, November 1st will be issued a $0.66 dividend. The ex-dividend date is Friday, October 29th. This represents a $2.64 annualized dividend and a yield of 2.11%. Paychex’s dividend payout ratio (DPR) is presently 78.34%.

In related news, VP Michael E. Gioja sold 8,000 shares of the stock in a transaction that occurred on Friday, October 15th. The shares were sold at an average price of $118.94, for a total value of $951,520.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.50% of the stock is currently owned by corporate insiders.

PAYX has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Paychex from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Friday, October 1st. Citigroup lowered their target price on shares of Paychex to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 13th.
JPMorgan Chase & Co. boosted their target price on shares of Paychex from $105.00 to $111.00 and gave the company an “underweight” rating in a research note on Tuesday, August 17th. Stifel Nicolaus boosted their target price on shares of Paychex from $114.00 to $118.00 and gave the company a “hold” rating in a research note on Thursday, September 30th. Finally, Robert W. Baird boosted their target price on shares of Paychex from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, October 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $109.83.

About Paychex

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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