Janney Capital Management LLC Reduces Position in Paychex, Inc. (PAYX)

Janney Capital Management LLC lowered its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,456 shares of the business services provider’s stock after selling 7,543 shares during the period. Janney Capital Management LLC owned about 0.10% of Paychex worth $22,452,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in Paychex by 28.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 154,807 shares of the business services provider’s stock valued at $8,816,000 after purchasing an additional 34,089 shares during the period. Rothschild Asset Management Inc. grew its holdings in shares of Paychex by 20.1% during the 2nd quarter. Rothschild Asset Management Inc. now owns 8,815 shares of the business services provider’s stock worth $502,000 after acquiring an additional 1,474 shares during the period. YHB Investment Advisors Inc. grew its holdings in shares of Paychex by 14.6% during the 2nd quarter. YHB Investment Advisors Inc. now owns 69,045 shares of the business services provider’s stock worth $3,931,000 after acquiring an additional 8,821 shares during the period. Stratos Wealth Partners LTD. grew its holdings in shares of Paychex by 6.1% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 28,123 shares of the business services provider’s stock worth $1,601,000 after acquiring an additional 1,608 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of Paychex by 2.0% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 35,748 shares of the business services provider’s stock worth $2,036,000 after acquiring an additional 688 shares during the period. 67.85% of the stock is owned by institutional investors.

PAYX has been the topic of a number of analyst reports. BidaskClub raised Paychex from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Paychex in a research report on Friday, December 22nd. Robert W. Baird reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Paychex in a research report on Wednesday, October 4th. Bank of America upped their price objective on Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, December 5th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $62.00 price target (up from $60.00) on shares of Paychex in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $61.87.

In other Paychex news, VP Jennifer R. Vossler sold 11,155 shares of Paychex stock in a transaction on Friday, October 6th. The shares were sold at an average price of $63.07, for a total value of $703,545.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP John B. Gibson sold 6,000 shares of Paychex stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $63.70, for a total transaction of $382,200.00. Following the sale, the vice president now owns 21,758 shares of the company’s stock, valued at $1,385,984.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,395 shares of company stock worth $4,084,383. Corporate insiders own 11.70% of the company’s stock.

Shares of Paychex, Inc. (NASDAQ PAYX) traded down $0.77 during trading hours on Tuesday, hitting $67.31. 2,289,061 shares of the company were exchanged, compared to its average volume of 1,750,150. The company has a market cap of $24,160.00, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 3.70 and a beta of 0.99. Paychex, Inc. has a 1 year low of $54.20 and a 1 year high of $70.39.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. The business had revenue of $826.50 million during the quarter, compared to the consensus estimate of $823.48 million. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. equities research analysts predict that Paychex, Inc. will post 2.38 EPS for the current year.

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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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