Community Bank & Trust Waco Texas Decreases Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Community Bank & Trust Waco Texas lessened its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,165 shares of the business services provider’s stock after selling 97 shares during the period. Community Bank & Trust Waco Texas’ holdings in Paychex were worth $4,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYX. Meeder Asset Management Inc. grew its stake in Paychex by 286.0% during the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 163 shares in the last quarter. ORG Partners LLC raised its position in shares of Paychex by 227.6% in the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after buying an additional 173 shares in the last quarter. ESL Trust Services LLC bought a new stake in Paychex during the first quarter valued at $31,000. Fortitude Family Office LLC grew its position in Paychex by 42.0% during the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock worth $34,000 after buying an additional 74 shares in the last quarter. Finally, American National Bank increased its stake in Paychex by 166.7% in the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock worth $34,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PAYX shares. TD Cowen raised their price objective on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. UBS Group boosted their target price on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group increased their price target on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $130.77.

Insider Buying and Selling at Paychex

In related news, VP Michael E. Gioja sold 14,731 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $139.18, for a total value of $2,050,260.58. Following the completion of the sale, the vice president now directly owns 14,515 shares of the company’s stock, valued at $2,020,197.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Michael E. Gioja sold 26,428 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total value of $3,674,284.84. Following the completion of the sale, the vice president now owns 14,515 shares of the company’s stock, valued at $2,018,020.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael E. Gioja sold 14,731 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $139.18, for a total value of $2,050,260.58. Following the transaction, the vice president now directly owns 14,515 shares in the company, valued at $2,020,197.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,174 shares of company stock valued at $7,577,231 in the last ninety days. Corporate insiders own 11.40% of the company’s stock.

Paychex Price Performance

NASDAQ:PAYX opened at $148.00 on Wednesday. The firm has a market capitalization of $53.27 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 4.09 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50 day simple moving average of $138.10 and a 200-day simple moving average of $128.52. Paychex, Inc. has a 1 year low of $113.87 and a 1 year high of $150.71.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.65%. Paychex’s payout ratio is currently 83.58%.

About Paychex

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.