Paychex, Inc. (PAYX) Holdings Reduced by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 46,143 shares of the business services provider’s stock after selling 2,907 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Paychex were worth $3,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAYX. We Are One Seven LLC bought a new stake in shares of Paychex during the fourth quarter worth $25,000. Liberty Wealth Management LLC bought a new stake in shares of Paychex during the fourth quarter worth $25,000. TCI Wealth Advisors Inc. lifted its position in shares of Paychex by 404.8% during the first quarter. TCI Wealth Advisors Inc. now owns 318 shares of the business services provider’s stock worth $26,000 after purchasing an additional 255 shares during the last quarter. Baldwin Brothers Inc. MA bought a new stake in shares of Paychex during the fourth quarter worth $27,000. Finally, Ellevest Inc. bought a new stake in shares of Paychex during the first quarter worth $27,000. 68.83% of the stock is owned by institutional investors.

Several analysts have recently weighed in on PAYX shares. Barclays lifted their target price on Paychex from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. Credit Suisse Group lifted their target price on Paychex from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Sanford C. Bernstein downgraded Paychex from a “market perform” rating to an “underperform” rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Paychex currently has a consensus rating of “Hold” and a consensus price target of $74.14.

PAYX stock opened at $84.31 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $29.98 billion, a P/E ratio of 33.06, a PEG ratio of 3.29 and a beta of 1.04. Paychex, Inc. has a 1-year low of $61.32 and a 1-year high of $84.85.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Paychex had a return on equity of 43.20% and a net margin of 28.19%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. On average, sell-side analysts anticipate that Paychex, Inc. will post 2.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Wednesday, May 15th will be issued a $0.62 dividend. This is an increase from Paychex’s previous quarterly dividend of $0.56. This represents a $2.48 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Tuesday, May 14th. Paychex’s payout ratio is presently 87.84%.

In other Paychex news, VP Laurie L. Zaucha sold 5,534 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $80.89, for a total value of $447,645.26. Following the completion of the transaction, the vice president now directly owns 43,955 shares in the company, valued at $3,555,519.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin Mucci sold 50,000 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $76.00, for a total transaction of $3,800,000.00. Following the completion of the transaction, the chief executive officer now owns 349,929 shares of the company’s stock, valued at $26,594,604. The disclosure for this sale can be found here. Insiders sold 176,671 shares of company stock valued at $14,022,221 over the last 90 days. 11.80% of the stock is currently owned by corporate insiders.

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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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Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX).

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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