Paychex, Inc. (NASDAQ:PAYX) Stock Holdings Lowered by Commerce Bank

Commerce Bank trimmed its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,823 shares of the business services provider’s stock after selling 366 shares during the period. Commerce Bank’s holdings in Paychex were worth $13,436,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PAYX. Monument Capital Management increased its stake in Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock valued at $240,000 after buying an additional 72 shares during the period. Mutual Advisors LLC lifted its position in Paychex by 2.6% in the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after purchasing an additional 73 shares during the period. Emerald Advisors LLC boosted its stake in Paychex by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 74 shares in the last quarter. Weaver Capital Management LLC raised its stake in shares of Paychex by 3.7% in the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock worth $297,000 after buying an additional 75 shares in the last quarter. Finally, Adero Partners LLC lifted its holdings in shares of Paychex by 3.2% in the fourth quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock valued at $335,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 83.47% of the company’s stock.

Insider Activity

In other Paychex news, Director Joseph M. Velli sold 3,650 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total transaction of $544,762.50. Following the transaction, the director now directly owns 78,455 shares in the company, valued at $11,709,408.75. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.40% of the stock is owned by insiders.

Paychex Stock Down 0.5 %

PAYX stock opened at $144.90 on Friday. The company has a 50 day moving average of $147.94 and a two-hundred day moving average of $144.62. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 12-month low of $115.40 and a 12-month high of $158.37. The company has a market cap of $52.19 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 4.10 and a beta of 0.88.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Paychex had a return on equity of 45.28% and a net margin of 32.02%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. On average, equities analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

PAYX has been the subject of a number of research analyst reports. Barclays upped their price target on shares of Paychex from $140.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, March 31st. Cfra Research upgraded shares of Paychex to a “hold” rating in a research report on Thursday, March 27th. Stifel Nicolaus raised their price objective on Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, March 27th. Citigroup boosted their target price on Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Finally, UBS Group lifted their price target on Paychex from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $141.00.

Paychex Company Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.