United Capital Financial Advisors LLC Sells 766 Shares of Paychex, Inc. (NASDAQ:PAYX)

United Capital Financial Advisors LLC cut its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,183 shares of the business services provider’s stock after selling 766 shares during the period. United Capital Financial Advisors LLC’s holdings in Paychex were worth $8,018,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PAYX. Meeder Asset Management Inc. lifted its position in shares of Paychex by 220.7% during the fourth quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 128 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Paychex during the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC bought a new position in shares of Paychex during the 4th quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new position in shares of Paychex in the 4th quarter worth approximately $33,000. Finally, Avion Wealth grew its holdings in shares of Paychex by 469.8% in the fourth quarter. Avion Wealth now owns 245 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Stock Down 1.0 %

PAYX opened at $147.62 on Wednesday. The company has a 50 day moving average of $148.03 and a 200 day moving average of $144.51. The company has a current ratio of 1.39, a quick 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 $53.17 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88.

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

Wall Street Analysts Forecast Growth

PAYX has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, March 27th. Citigroup boosted their price target on shares of Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price objective on shares of Paychex in a report on Friday, December 20th. Morgan Stanley boosted their target price on shares of Paychex from $137.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Finally, Cfra Research raised shares of Paychex to a “hold” rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat, Paychex currently has a consensus rating of “Hold” and an average price target of $141.00.

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.