Wambolt & Associates LLC Sells 125 Shares of Paychex, Inc. (PAYX)

Wambolt & Associates LLC cut its stake in Paychex, Inc. (NASDAQ:PAYX) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,103 shares of the business services provider’s stock after selling 125 shares during the period. Wambolt & Associates LLC’s holdings in Paychex were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Paychex by 5.9% during the fourth quarter. BlackRock Inc. now owns 28,030,198 shares of the business services provider’s stock worth $1,826,167,000 after purchasing an additional 1,560,669 shares in the last quarter. Vanguard Group Inc. lifted its stake in Paychex by 1.5% during the third quarter. Vanguard Group Inc. now owns 25,237,021 shares of the business services provider’s stock worth $1,858,708,000 after purchasing an additional 363,583 shares in the last quarter. Vanguard Group Inc lifted its stake in Paychex by 1.5% during the third quarter. Vanguard Group Inc now owns 25,237,021 shares of the business services provider’s stock worth $1,858,708,000 after purchasing an additional 363,583 shares in the last quarter. Lunia Capital LP lifted its stake in Paychex by 8,881.0% during the fourth quarter. Lunia Capital LP now owns 10,859,007 shares of the business services provider’s stock worth $10,859,000 after purchasing an additional 10,738,096 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Paychex by 1,614,724.4% during the third quarter. Bank of New York Mellon Corp now owns 8,477,828 shares of the business services provider’s stock worth $624,389,000 after purchasing an additional 8,477,303 shares in the last quarter. Institutional investors and hedge funds own 68.60% of the company’s stock.

In other news, CEO Martin Mucci sold 50,000 shares of the stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $72.32, for a total transaction of $3,616,000.00. Following the completion of the sale, the chief executive officer now owns 349,929 shares in the company, valued at $25,306,865.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer R. Vossler sold 10,000 shares of the stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $74.98, for a total transaction of $749,800.00. Following the sale, the vice president now owns 31,701 shares of the company’s stock, valued at approximately $2,376,940.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,272 shares of company stock worth $16,042,029. Corporate insiders own 11.80% of the company’s stock.

PAYX has been the topic of a number of research reports. Sanford C. Bernstein cut Paychex from a “market perform” rating to an “underperform” rating in a research note on Tuesday. Bank of America raised Paychex from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $64.00 to $68.00 in a research report on Tuesday, January 8th. They noted that the move was a valuation call. Credit Suisse Group upped their price objective on Paychex from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Barclays upped their price objective on Paychex from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Paychex presently has an average rating of “Hold” and an average price target of $74.14.

Shares of PAYX stock opened at $84.61 on Friday. The stock has a market cap of $30.38 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 3.28 and a beta of 1.04. Paychex, Inc. has a 1 year low of $61.16 and a 1 year high of $84.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.11.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, March 27th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.89. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Paychex had a return on equity of 43.20% and a net margin of 28.19%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. Analysts predict that Paychex, Inc. will post 2.85 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.62 per share. This is a positive change from Paychex’s previous quarterly dividend of $0.56. This represents a $2.48 annualized dividend and a dividend yield of 2.93%. Paychex’s dividend payout ratio (DPR) is presently 87.84%.

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Paychex Profile

Paychex, Inc provides payroll, human resource (HR), retirement, 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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