McKinley Carter Wealth Services Inc. Decreases Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

McKinley Carter Wealth Services Inc. decreased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 12.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,930 shares of the business services provider’s stock after selling 400 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Paychex were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYX. Meeder Asset Management Inc. lifted its holdings in Paychex by 286.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 163 shares in the last quarter. ORG Partners LLC lifted its holdings in Paychex by 227.6% in the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Paychex in the 2nd quarter valued at $30,000. Chilton Capital Management LLC purchased a new position in Paychex in the 1st quarter valued at $31,000. Finally, ESL Trust Services LLC purchased a new position in shares of Paychex during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Trading Down 0.0 %

NASDAQ:PAYX opened at $142.28 on Thursday. The firm has a market cap of $51.22 billion, a P/E ratio of 30.47, a PEG ratio of 3.73 and a beta of 1.00. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $132.66 and its 200-day simple moving average is $125.89. Paychex, Inc. has a 12-month low of $106.27 and a 12-month high of $144.17.

Paychex (NASDAQ:PAYX) last released its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. Equities analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is presently 83.94%.

Wall Street Analysts Forecast Growth

PAYX has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their price target on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 2nd. Robert W. Baird reduced their price target on Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Citigroup lifted their price target on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to data from MarketBeat, Paychex has a consensus rating of “Hold” and a consensus price target of $130.77.

Insider Buying and Selling

In related news, Director David J. S. Flaschen sold 9,615 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $125.60, for a total transaction of $1,207,644.00. Following the transaction, the director now owns 5,383 shares of the company’s stock, valued at $676,104.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Paychex news, VP Mark Anthony Bottini sold 8,954 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total value of $1,106,714.40. Following the sale, the vice president now owns 79,232 shares of the company’s stock, valued at approximately $9,793,075.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David J. S. Flaschen sold 9,615 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $125.60, for a total value of $1,207,644.00. Following the completion of the sale, the director now directly owns 5,383 shares in the company, valued at $676,104.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,162 shares of company stock valued at $9,846,185 over the last quarter. Company insiders own 11.50% of the company’s stock.

Paychex Company Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.