Franklin Street Advisors Inc. NC lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 110,189 shares of the business services provider’s stock after acquiring an additional 2,232 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Paychex were worth $7,502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYX. Engineers Gate Manager LP bought a new stake in Paychex in the second quarter worth about $581,000. CIBC World Markets Inc. raised its position in Paychex by 17.4% in the second quarter. CIBC World Markets Inc. now owns 18,556 shares of the business services provider’s stock worth $1,057,000 after acquiring an additional 2,751 shares during the period. Franklin Resources Inc. raised its position in Paychex by 9.3% in the second quarter. Franklin Resources Inc. now owns 156,887 shares of the business services provider’s stock worth $8,934,000 after acquiring an additional 13,372 shares during the period. Aberdeen Asset Management PLC UK raised its position in Paychex by 6.9% in the second quarter. Aberdeen Asset Management PLC UK now owns 302,126 shares of the business services provider’s stock worth $17,202,000 after acquiring an additional 19,614 shares during the period. Finally, Riverhead Capital Management LLC raised its position in Paychex by 2.5% in the second quarter. Riverhead Capital Management LLC now owns 32,503 shares of the business services provider’s stock worth $1,851,000 after acquiring an additional 794 shares during the period. 67.85% of the stock is currently owned by institutional investors.

Several analysts have commented on the stock. Wells Fargo & Co lifted their price objective on shares of Paychex from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “sell” rating and issued a $57.00 price objective on shares of Paychex in a research report on Wednesday, November 15th. Bank of America lowered shares of Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a research report on Tuesday. Citigroup reaffirmed a “sell” rating and issued a $53.00 price objective on shares of Paychex in a research report on Monday, October 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $59.00 price objective (up previously from $55.00) on shares of Paychex in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.87.

In related news, VP John B. Gibson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $63.70, for a total transaction of $382,200.00. Following the completion of the transaction, the vice president now owns 21,758 shares of the company’s stock, valued at $1,385,984.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael E. Gioja sold 34,311 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total transaction of $2,364,371.01. Following the transaction, the insider now directly owns 63,374 shares of the company’s stock, valued at approximately $4,367,102.34. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by insiders.

Paychex, Inc. (NASDAQ:PAYX) traded down $0.46 on Wednesday, hitting $67.82. 2,850,000 shares of the stock traded hands, compared to its average volume of 2,161,067. The stock has a market capitalization of $24,350.00, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 3.71 and a beta of 0.99. Paychex, Inc. has a 52-week low of $54.20 and a 52-week high of $70.39.

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

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Paychex Profile

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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