Stock Yards Bank & Trust Co. reduced its position in shares of Paychex Inc. (NASDAQ:PAYX) by 9.4% during the third quarter, Holdings Channel reports. The institutional investor owned 251,148 shares of the company’s stock after selling 26,053 shares during the period. Paychex makes up about 2.0% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 10th largest position. Stock Yards Bank & Trust Co.’s holdings in Paychex were worth $14,534,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PAYX. Financial Architects Inc raised its stake in shares of Paychex by 0.7% in the second quarter. Financial Architects Inc now owns 1,838 shares of the company’s stock worth $109,000 after buying an additional 12 shares in the last quarter. Investment Management of Virginia LLC raised its stake in shares of Paychex by 0.6% in the third quarter. Investment Management of Virginia LLC now owns 4,150 shares of the company’s stock worth $240,000 after buying an additional 25 shares in the last quarter. IFC Holdings Incorporated FL raised its stake in shares of Paychex by 0.6% in the second quarter. IFC Holdings Incorporated FL now owns 4,712 shares of the company’s stock worth $278,000 after buying an additional 27 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in shares of Paychex by 0.3% in the third quarter. Carroll Financial Associates Inc. now owns 8,963 shares of the company’s stock worth $518,000 after buying an additional 29 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Paychex by 0.3% in the second quarter. Synovus Financial Corp now owns 8,692 shares of the company’s stock worth $517,000 after buying an additional 30 shares in the last quarter. 67.66% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

Shares of Paychex Inc. (NASDAQ:PAYX) traded down 0.13% on Wednesday, reaching $59.38. The company’s stock had a trading volume of 831,283 shares. Paychex Inc. has a 1-year low of $45.76 and a 1-year high of $61.87. The stock has a market capitalization of $21.47 billion, a PE ratio of 28.14 and a beta of 0.86. The stock has a 50-day moving average of $55.88 and a 200 day moving average of $57.42.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, September 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business earned $785.50 million during the quarter, compared to analysts’ expectations of $782.80 million. Paychex had a net margin of 25.38% and a return on equity of 40.10%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. On average, equities analysts forecast that Paychex Inc. will post $2.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 1st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, October 28th. Paychex’s dividend payout ratio (DPR) is presently 87.20%.

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A number of equities research analysts have recently issued reports on PAYX shares. Morgan Stanley reiterated an “underweight” rating and set a $49.00 price target on shares of Paychex in a research report on Tuesday, August 23rd. Zacks Investment Research downgraded shares of Paychex from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. Finally, Wedbush started coverage on shares of Paychex in a research report on Thursday, September 8th. They set a “neutral” rating and a $65.00 price target for the company. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.00.

Paychex Company Profile

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.

5 Day Chart for NASDAQ:PAYX

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