Paychex, Inc. (NASDAQ:PAYX) Stock Position Lessened by Hills Bank & Trust Co

Hills Bank & Trust Co decreased its holdings in Paychex, Inc. (NASDAQ:PAYX) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,390 shares of the business services provider’s stock after selling 164 shares during the quarter. Hills Bank & Trust Co’s holdings in Paychex were worth $829,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Usca Ria LLC lifted its holdings in shares of Paychex by 11.4% during the third quarter. Usca Ria LLC now owns 46,391 shares of the business services provider’s stock valued at $3,701,000 after purchasing an additional 4,753 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of Paychex by 15.2% during the third quarter. New Mexico Educational Retirement Board now owns 24,698 shares of the business services provider’s stock valued at $2,044,000 after purchasing an additional 3,250 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its holdings in shares of Paychex by 7.3% during the third quarter. Guinness Atkinson Asset Management Inc now owns 6,487 shares of the business services provider’s stock valued at $517,000 after purchasing an additional 440 shares during the last quarter. Strategic Blueprint LLC lifted its holdings in shares of Paychex by 38.3% during the third quarter. Strategic Blueprint LLC now owns 4,500 shares of the business services provider’s stock valued at $359,000 after purchasing an additional 1,247 shares during the last quarter. Finally, Ethic Inc. lifted its holdings in shares of Paychex by 38.5% during the third quarter. Ethic Inc. now owns 9,332 shares of the business services provider’s stock valued at $744,000 after purchasing an additional 2,592 shares during the last quarter. 69.85% of the stock is owned by institutional investors.

In other Paychex news, VP Michael E. Gioja sold 10,891 shares of the business’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $81.91, for a total value of $892,081.81. Following the completion of the transaction, the vice president now directly owns 67,296 shares of the company’s stock, valued at $5,512,215.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie L. Schaeffer sold 51,606 shares of the business’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $84.00, for a total value of $4,334,904.00. Following the completion of the transaction, the insider now directly owns 86,318 shares of the company’s stock, valued at $7,250,712. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,542 shares of company stock valued at $29,710,384. 11.70% of the stock is owned by insiders.

Shares of NASDAQ PAYX traded down $0.78 during midday trading on Friday, hitting $81.67. The stock had a trading volume of 32,789 shares, compared to its average volume of 2,206,394. The company’s 50-day simple moving average is $80.18 and its 200 day simple moving average is $74.06. The firm has a market cap of $29.64 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 3.63 and a beta of 0.92. Paychex, Inc. has a fifty-two week low of $47.87 and a fifty-two week high of $90.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Sunday, October 11th. The business services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Paychex had a return on equity of 38.70% and a net margin of 26.26%. The business had revenue of $932.20 million during the quarter, compared to analysts’ expectations of $888.27 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities analysts expect that Paychex, Inc. will post 2.82 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, November 2nd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.04%. Paychex’s dividend payout ratio (DPR) is presently 82.67%.

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Paychex from $72.00 to $78.00 and gave the stock an “underweight” rating in a research note on Monday, August 17th. Argus raised their price target on Paychex from $83.00 to $92.00 in a research note on Thursday, October 15th. BMO Capital Markets raised their price target on Paychex from $74.00 to $82.00 in a research note on Wednesday, October 7th. Morgan Stanley raised their price target on Paychex from $74.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 7th. Finally, BidaskClub raised Paychex from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.92.

About Paychex

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small- to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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