First National Trust Co decreased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,380 shares of the business services provider’s stock after selling 1,519 shares during the period. First National Trust Co’s holdings in Paychex were worth $1,728,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Paychex by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,043,348 shares of the business services provider’s stock valued at $1,312,089,000 after purchasing an additional 589,880 shares during the period. FMR LLC increased its position in Paychex by 6.2% during the 2nd quarter. FMR LLC now owns 10,476,188 shares of the business services provider’s stock valued at $596,514,000 after purchasing an additional 610,088 shares during the period. Bank of New York Mellon Corp increased its position in Paychex by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,901,485 shares of the business services provider’s stock valued at $473,772,000 after purchasing an additional 64,254 shares during the period. Royal Bank of Canada increased its position in Paychex by 3.3% during the 2nd quarter. Royal Bank of Canada now owns 3,081,752 shares of the business services provider’s stock valued at $175,475,000 after purchasing an additional 97,170 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Paychex by 2.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,191,736 shares of the business services provider’s stock valued at $124,797,000 after purchasing an additional 57,610 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have commented on PAYX shares. Citigroup reissued a “sell” rating and set a $53.00 target price on shares of Paychex in a research report on Monday, October 2nd. Robert W. Baird reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Paychex in a research report on Wednesday, October 4th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $57.00 price objective (up previously from $54.00) on shares of Paychex in a research report on Wednesday, October 4th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $62.00 price objective (up previously from $60.00) on shares of Paychex in a research report on Wednesday, October 4th. Finally, Bank of America lifted their price objective on shares of Paychex from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $62.10.

Paychex, Inc. (NASDAQ:PAYX) opened at $69.64 on Thursday. Paychex, Inc. has a 12-month low of $54.20 and a 12-month high of $70.39. The stock has a market cap of $24,518.00, a P/E ratio of 29.89, a PEG ratio of 3.68 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The firm had revenue of $826.50 million for the quarter, compared to the consensus estimate of $823.48 million. During the same quarter in the previous year, the firm earned $0.56 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. analysts predict that Paychex, Inc. will post 2.38 earnings per share for the current year.

In related news, insider Michael E. Gioja sold 34,311 shares of Paychex stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total value of $2,364,371.01. Following the completion of the sale, the insider now directly owns 63,374 shares in the company, valued at approximately $4,367,102.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John B. Gibson sold 6,000 shares of Paychex stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $63.70, for a total transaction of $382,200.00. Following the completion of the sale, the vice president now owns 21,758 shares of the company’s stock, valued at $1,385,984.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,311 shares of company stock worth $3,429,471. Insiders own 11.70% of the company’s stock.

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About Paychex

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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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