Roman Butler Fullerton & Co. Sells 1,121 Shares of Paychex, Inc. (NASDAQ:PAYX)

Roman Butler Fullerton & Co. reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,977 shares of the business services provider’s stock after selling 1,121 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Paychex were worth $574,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. M Holdings Securities Inc. purchased a new position in shares of Paychex in the first quarter worth $214,000. Mechanics Bank Trust Department increased its position in Paychex by 2.0% in the second quarter. Mechanics Bank Trust Department now owns 25,348 shares of the business services provider’s stock worth $2,086,000 after purchasing an additional 490 shares during the last quarter. Exeter Financial LLC increased its position in Paychex by 1.0% during the first quarter. Exeter Financial LLC now owns 12,805 shares of the business services provider’s stock valued at $1,027,000 after acquiring an additional 128 shares during the last quarter. Northeast Financial Consultants Inc bought a new position in Paychex during the first quarter valued at $694,000. Finally, Envestnet Asset Management Inc. increased its position in Paychex by 16.6% during the first quarter. Envestnet Asset Management Inc. now owns 273,029 shares of the business services provider’s stock valued at $21,897,000 after acquiring an additional 38,873 shares during the last quarter. 69.52% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Martin Mucci sold 19,759 shares of the company’s stock in a transaction dated Saturday, July 6th. The shares were sold at an average price of $85.31, for a total value of $1,685,640.29. Following the completion of the sale, the chief executive officer now directly owns 280,170 shares of the company’s stock, valued at $23,901,302.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer R. Vossler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.24, for a total transaction of $842,400.00. Following the completion of the sale, the vice president now directly owns 31,701 shares of the company’s stock, valued at $2,670,492.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,735 shares of company stock valued at $9,592,477. 11.80% of the stock is owned by insiders.

A number of research analysts have weighed in on the stock. Bank of America cut shares of Paychex from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 26th. They noted that the move was a valuation call. William Blair reiterated a “market perform” rating on shares of Paychex in a research report on Thursday, June 27th. BidaskClub upgraded shares of Paychex from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein cut shares of Paychex from a “market perform” rating to an “underperform” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $75.08.

NASDAQ:PAYX traded down $0.38 during mid-day trading on Friday, reaching $83.50. The company’s stock had a trading volume of 51,880 shares, compared to its average volume of 1,571,895. Paychex, Inc. has a 1 year low of $61.32 and a 1 year high of $88.43. The business’s fifty day simple moving average is $85.25. The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 3.10 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 1.17.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). Paychex had a return on equity of 40.99% and a net margin of 27.42%. The business had revenue of $980.40 million during the quarter, compared to analysts’ expectations of $978.94 million. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that Paychex, Inc. will post 3.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 1st will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, July 31st. Paychex’s dividend payout ratio (DPR) is presently 87.32%.

Paychex Company 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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