Signet Financial Management LLC increased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 1.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,981 shares of the business services provider’s stock after buying an additional 644 shares during the quarter. Signet Financial Management LLC’s holdings in Paychex were worth $2,390,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. grew its stake in Paychex by 0.6% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock worth $102,000 after buying an additional 11 shares during the last quarter. Bruderman Asset Management LLC grew its stake in Paychex by 0.3% during the 1st quarter. Bruderman Asset Management LLC now owns 6,794 shares of the business services provider’s stock worth $400,000 after buying an additional 20 shares during the last quarter. Alps Advisors Inc. grew its stake in Paychex by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,685 shares of the business services provider’s stock worth $438,000 after buying an additional 20 shares during the last quarter. Northwest Quadrant Wealth Management LLC grew its stake in Paychex by 0.6% during the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 3,923 shares of the business services provider’s stock worth $228,000 after buying an additional 24 shares during the last quarter. Finally, King Wealth Management Group LLC grew its stake in Paychex by 0.8% during the 1st quarter. King Wealth Management Group LLC now owns 3,793 shares of the business services provider’s stock worth $223,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

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Shares of Paychex, Inc. (NASDAQ:PAYX) traded up 0.85% on Thursday, hitting $63.14. The company’s stock had a trading volume of 547,128 shares. Paychex, Inc. has a 1-year low of $52.78 and a 1-year high of $63.14. The company has a 50 day moving average of $57.82 and a 200 day moving average of $58.19. The firm has a market cap of $22.69 billion, a PE ratio of 28.06 and a beta of 0.98.

Paychex (NASDAQ:PAYX) last posted its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $816.80 million during the quarter, compared to analyst estimates of $816.34 million. Paychex had a return on equity of 43.33% and a net margin of 26.01%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. Equities analysts forecast that Paychex, Inc. will post $2.38 EPS for the current year.

A number of research firms recently issued reports on PAYX. BMO Capital Markets restated a “market perform” rating and set a $62.00 price target (up previously from $60.00) on shares of Paychex in a research note on Wednesday. J P Morgan Chase & Co restated a “neutral” rating and set a $60.00 price target (down previously from $62.00) on shares of Paychex in a research note on Friday, June 30th. Goldman Sachs Group, Inc. (The) downgraded Paychex from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $64.00 in a research note on Tuesday, June 20th. Wells Fargo & Company raised their price target on Paychex from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Morgan Stanley restated an “equal weight” rating and set a $59.00 price target (up previously from $55.00) on shares of Paychex in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $60.07.

In other news, VP Laurie L. Zaucha sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $62.00, for a total transaction of $930,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph M. Tucci sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $57.82, for a total value of $346,920.00. Following the transaction, the director now directly owns 53,621 shares of the company’s stock, valued at $3,100,366.22. The disclosure for this sale can be found here. Insiders have sold 112,270 shares of company stock valued at $6,543,888 over the last ninety days. Corporate insiders own 11.70% of the company’s stock.

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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