YHB Investment Advisors Inc. cut its position in Paychex, Inc. (NASDAQ:PAYX) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,732 shares of the business services provider’s stock after selling 1,210 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Paychex were worth $5,111,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Pinnacle Bank increased its position in Paychex by 2.5% in the 1st quarter. Pinnacle Bank now owns 5,105 shares of the business services provider’s stock valued at $409,000 after acquiring an additional 125 shares during the period. Exeter Financial LLC increased its position in Paychex by 1.0% in the 1st quarter. Exeter Financial LLC now owns 12,805 shares of the business services provider’s stock valued at $1,027,000 after acquiring an additional 128 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC increased its position in Paychex by 1.0% in the 1st quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,562 shares of the business services provider’s stock valued at $1,088,000 after acquiring an additional 130 shares during the period. Clifford Swan Investment Counsel LLC increased its position in Paychex by 2.3% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 6,580 shares of the business services provider’s stock valued at $429,000 after acquiring an additional 145 shares during the period. Finally, Hollencrest Capital Management increased its position in Paychex by 4.3% in the 1st quarter. Hollencrest Capital Management now owns 3,537 shares of the business services provider’s stock valued at $284,000 after acquiring an additional 146 shares during the period. Institutional investors own 68.58% of the company’s stock.
Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of Paychex from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, April 1st. Bank of America raised shares of Paychex from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $64.00 to $68.00 in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Finally, Credit Suisse Group upped their price objective on shares of Paychex from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $74.14.
Shares of NASDAQ:PAYX traded down $0.07 during trading on Monday, reaching $83.72. The stock had a trading volume of 47,011 shares, compared to its average volume of 1,525,369. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.11. Paychex, Inc. has a 52 week low of $60.13 and a 52 week high of $84.02. The firm has a market cap of $30.09 billion, a P/E ratio of 32.89, a P/E/G ratio of 3.26 and a beta of 1.04.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $0.89 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.89. Paychex had a net margin of 28.19% and a return on equity of 43.20%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Paychex, Inc. will post 2.85 earnings per share for the current year.
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Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.
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