Marino Stram & Associates LLC Sells 490 Shares of Paychex, Inc. (NASDAQ:PAYX)

Marino Stram & Associates LLC cut its holdings in shares of Paychex, Inc. (NASDAQ:PAYXGet Rating) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,244 shares of the business services provider’s stock after selling 490 shares during the quarter. Marino Stram & Associates LLC’s holdings in Paychex were worth $597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYX. Rather & Kittrell Inc. bought a new stake in shares of Paychex in the 4th quarter valued at about $25,000. MCF Advisors LLC bought a new stake in shares of Paychex in the 1st quarter valued at about $25,000. Clear Investment Research LLC bought a new stake in shares of Paychex in the 1st quarter valued at about $27,000. Princeton Global Asset Management LLC bought a new stake in shares of Paychex in the 1st quarter valued at about $27,000. Finally, DeDora Capital Inc. bought a new stake in shares of Paychex in the 1st quarter valued at about $28,000. 71.80% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Efrain Rivera sold 30,866 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $116.13, for a total transaction of $3,584,468.58. Following the completion of the transaction, the chief financial officer now owns 86,031 shares of the company’s stock, valued at $9,990,780.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO John B. Gibson sold 3,132 shares of the stock in a transaction on Friday, July 8th. The shares were sold at an average price of $116.80, for a total transaction of $365,817.60. Following the completion of the sale, the chief operating officer now directly owns 48,687 shares in the company, valued at $5,686,641.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Efrain Rivera sold 30,866 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $116.13, for a total transaction of $3,584,468.58. Following the sale, the chief financial officer now owns 86,031 shares of the company’s stock, valued at $9,990,780.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,837 shares of company stock valued at $10,539,336. Insiders own 11.50% of the company’s stock.

Paychex Stock Performance

NASDAQ PAYX opened at $117.61 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $42.37 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 3.79 and a beta of 1.00. The firm’s 50 day simple moving average is $126.54 and its 200 day simple moving average is $125.33. Paychex, Inc. has a 1 year low of $106.55 and a 1 year high of $141.92.

Paychex (NASDAQ:PAYXGet Rating) last issued its quarterly earnings data on Wednesday, June 29th. The business services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.79 by $0.02. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Paychex had a net margin of 30.20% and a return on equity of 43.65%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. As a group, research analysts expect that Paychex, Inc. will post 4.14 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Wednesday, August 10th. Paychex’s payout ratio is currently 82.29%.

Analyst Ratings Changes

A number of research analysts recently commented on PAYX shares. Citigroup decreased their price target on shares of Paychex from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Paychex from $145.00 to $123.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Morgan Stanley decreased their price target on shares of Paychex from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 30th. Barclays decreased their price target on shares of Paychex from $140.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 30th. Finally, Credit Suisse Group decreased their price target on shares of Paychex from $165.00 to $140.00 and set an “outperform” rating on the stock in a research note on Thursday, June 30th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paychex currently has an average rating of “Hold” and a consensus price target of $130.75.

About Paychex

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Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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