CHICAGO TRUST Co NA Lowers Holdings in Paychex, Inc. (NASDAQ:PAYX)

CHICAGO TRUST Co NA decreased its holdings in Paychex, Inc. (NASDAQ:PAYXGet Rating) by 20.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,195 shares of the business services provider’s stock after selling 552 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Paychex were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank boosted its stake in shares of Paychex by 31.4% in the first quarter. American National Bank now owns 310 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 74 shares during the period. TRU Independence Asset Management 2 LLC boosted its stake in shares of Paychex by 0.3% in the fourth quarter. TRU Independence Asset Management 2 LLC now owns 27,986 shares of the business services provider’s stock valued at $3,820,000 after purchasing an additional 83 shares during the period. Lantz Financial LLC boosted its stake in shares of Paychex by 0.4% in the fourth quarter. Lantz Financial LLC now owns 20,424 shares of the business services provider’s stock valued at $2,788,000 after purchasing an additional 84 shares during the period. Simon Quick Advisors LLC boosted its stake in shares of Paychex by 10.3% in the fourth quarter. Simon Quick Advisors LLC now owns 900 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 84 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in shares of Paychex by 67.2% in the fourth quarter. Tortoise Investment Management LLC now owns 219 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 88 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

PAYX stock opened at $115.63 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. Paychex, Inc. has a twelve month low of $102.58 and a twelve month high of $141.92. The company’s 50 day moving average is $124.01 and its two-hundred day moving average is $124.99. The stock has a market cap of $41.74 billion, a P/E ratio of 30.83, a PEG ratio of 3.70 and a beta of 0.98.

Paychex (NASDAQ:PAYXGet Rating) last announced its earnings results on Wednesday, March 30th. The business services provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Paychex had a net margin of 30.23% and a return on equity of 43.02%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. On average, equities research analysts predict that Paychex, Inc. will post 3.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.73%. This is a boost from Paychex’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, May 11th. Paychex’s payout ratio is presently 84.27%.

Several research analysts have recently commented on PAYX shares. Bank of America raised shares of Paychex from an “underperform” rating to a “neutral” rating and set a $125.00 price objective for the company in a research note on Wednesday, March 9th. Cowen decreased their price target on shares of Paychex from $151.00 to $140.00 in a research note on Tuesday. Morgan Stanley lifted their price target on shares of Paychex from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 31st. StockNews.com initiated coverage on shares of Paychex in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Citigroup lifted their price target on shares of Paychex from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Paychex has an average rating of “Hold” and a consensus target price of $128.67.

In other Paychex news, VP Karen E. Saunders-Mcclendon sold 203 shares of the business’s stock in a transaction on Friday, April 15th. The shares were sold at an average price of $136.69, for a total value of $27,748.07. Following the transaction, the vice president now directly owns 2,994 shares of the company’s stock, valued at approximately $409,249.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael E. Gioja sold 26,000 shares of the business’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $141.26, for a total transaction of $3,672,760.00. Following the completion of the transaction, the vice president now directly owns 52,349 shares in the company, valued at $7,394,819.74. The disclosure for this sale can be found here. Insiders own 11.50% of the company’s stock.

Paychex Company Profile (Get Rating)

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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