Benjamin F. Edwards & Company Inc. Sells 8,012 Shares of Paychex, Inc. (PAYX)

Benjamin F. Edwards & Company Inc. lessened its holdings in Paychex, Inc. (NASDAQ:PAYX) by 39.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,490 shares of the business services provider’s stock after selling 8,012 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Paychex were worth $850,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PAYX. Salem Investment Counselors Inc. boosted its position in Paychex by 0.6% during the second quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 11 shares during the last quarter. Sun Life Financial INC boosted its position in Paychex by 23,260.0% during the second quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 2,326 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in Paychex during the second quarter valued at $145,000. Bank of Nova Scotia Trust Co. acquired a new stake in Paychex during the third quarter valued at $188,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in Paychex during the third quarter valued at $210,000. 67.98% of the stock is owned by institutional investors and hedge funds.

In other news, VP Jennifer R. Vossler sold 10,000 shares of Paychex stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total value of $682,900.00. Following the transaction, the vice president now directly owns 31,578 shares in the company, valued at $2,156,461.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael E. Gioja sold 34,311 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $68.91, for a total value of $2,364,371.01. Following the transaction, the insider now owns 63,374 shares in the company, valued at $4,367,102.34. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.

Paychex, Inc. (NASDAQ:PAYX) traded up $2.30 during midday trading on Friday, reaching $64.16. The company’s stock had a trading volume of 2,840,112 shares, compared to its average volume of 2,572,120. Paychex, Inc. has a one year low of $54.20 and a one year high of $73.10. The company has a market capitalization of $23,045.38, a price-to-earnings ratio of 27.90, a P/E/G ratio of 3.45 and a beta of 0.94.

Paychex (NASDAQ:PAYX) last posted its earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. The company had revenue of $826.50 million for the quarter, compared to analyst estimates of $823.48 million. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. equities analysts anticipate that Paychex, Inc. will post 2.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.12%. Paychex’s payout ratio is presently 85.84%.

A number of research firms recently issued reports on PAYX. BMO Capital Markets reissued a “hold” rating and set a $70.00 price objective on shares of Paychex in a research report on Wednesday, January 24th. BidaskClub cut Paychex from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 22nd. Bank of America cut Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research report on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and set a $68.00 price objective on shares of Paychex in a research report on Friday, December 22nd. Finally, Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 target price on the stock in a report on Monday, December 4th. Two analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.77.

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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.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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