Paychex, Inc. (PAYX) Given "Sell" Rating at Royal Bank Of Canada

Paychex Inc now has $23.31 billion valuation. (NASDAQ:PAYX). Highbridge Capital Mngmt Ltd Liability Corporation reported 5,378 shares. Janus Henderson Group PLC now owns 1,830,532 shares of the business services provider's stock valued at $104,230,000 after purchasing an additional 1,787,007 shares during the period. It is the same, as 45 investors sold PAYX shares while 279 reduced holdings. only 68 funds opened positions while 265 raised stakes. Finally, Vanguard Group Inc. boosted its holdings in shares of Paychex by 2.6% in the second quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider's stock valued at $102,000 after acquiring an additional 11 shares in the last quarter. FMR LLC now owns 10,476,188 shares of the business services provider's stock valued at $596,514,000 after acquiring an additional 610,088 shares in the last quarter. Parkwood LLC acquired a new stake in shares of Paychex during the third quarter worth about $280,000. The firm owned 5,000 shares of the business services provider's stock after selling 200 shares during the period. Shelton Capital Management grew its holdings in shares of Paychex by 72.6% in the first quarter. Washington Trust Bank now owns 7,344 shares of the business services provider's stock valued at $418,000 after acquiring an additional 31 shares in the last quarter. (NASDAQ:PAYX). Redmond Asset Management Lc stated it has 11,042 shares or 0.3% of all its holdings. Zooming in closer, company stock has been 16.41% for the quarter, 2.22% over the past month, and 0.54% over the past week.

Several large investors have recently made changes to their positions in PAYX.

Among 18 analysts covering Paychex (NASDAQ:PAYX), 2 have Buy rating, 3 Sell and 13 Hold. Sanford C. Bernstein upgraded Paychex from an "underperform" rating to a "market perform" rating and raised their price objective for the company from $52.00 to $59.00 in a research report on Wednesday, January 11th. They noted that the move was a valuation call. Compass Point maintained the stock with "Sell" rating in Thursday, December 22 report. Finally, 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 report on Wednesday, October 4th.

In the most updated research from a number of analysts on Wall Street, the company gets 2 Buys and 3 Sell among 19 analysts. Paychex now has a consensus rating of "Hold" and a consensus target price of $60.07.

In related news, CEO Martin Mucci sold 29,786 shares of Paychex stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the sale, the vice president now owns 51,360 shares in the company, valued at approximately $3,081,600.

According to Paychex, Inc.'s latest 13F filing with the US Securities and Exchange Commission (SEC), institutional ownership is at 69.50%. Also, VP Jennifer R. Vossler sold 11,155 shares of the firm's stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $63.07, for a total value of $703,545.85. The disclosure for this sale can be found here. Insiders have sold a total of 94,395 shares of company stock valued at $5,914,383 over the last 90 days.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Week Herald and is the sole property of of Week Herald. If you are accessing this piece of content on another domain, it was stolen and republished in violation of worldwide copyright & trademark legislation. The legal version of this story can be viewed at https://stocknewstimes.com/2017/11/19/keystone-financial-planning-inc-grows-position-in-paychex-inc-payx.html. (NASDAQ:PAYX). Oakworth Capital has 0.09% invested in Paychex, Inc. The company had a trading volume of 1,589,898 shares, compared to its average volume of 1,753,085. RBC Capital Markets maintained the stock with "Sell" rating in Wednesday, June 28 report. Paychex, Inc. has a fifty-two week low of $54.20 and a fifty-two week high of $66.31. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The company earned $795.80 million during the quarter, compared to the consensus estimate of $799.08 million.

Shareholders can expect a return on equity of 43.50%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Paychex, Inc. will post $2.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. The stock increased 1.04% or $0.32 on November 17, reaching $30.96. The ex-dividend date was Tuesday, October 31st.

At present, Paychex, Inc. has a dividend yield of 3.06% * with a payout ratio of 81.60% *. Paychex's payout ratio is now 87.34%.

Paychex, Inc.is a provider of integrated human capital management solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. It also provides an insight on whether the company is undervalued or overvalued. The Firm offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.

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