Williams Jones & Associates LLC trimmed its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 330,461 shares of the business services provider’s stock after selling 37,008 shares during the period. Williams Jones & Associates LLC owned approximately 0.09% of Paychex worth $18,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYX. Royal Bank of Canada lifted its position in Paychex by 3.3% during the second quarter. Royal Bank of Canada now owns 3,081,752 shares of the business services provider’s stock valued at $175,475,000 after purchasing an additional 97,170 shares during the period. AHL Partners LLP lifted its holdings in shares of Paychex by 18.8% during the 2nd quarter. AHL Partners LLP now owns 168,121 shares of the business services provider’s stock valued at $9,573,000 after buying an additional 26,588 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of Paychex by 0.6% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock valued at $102,000 after buying an additional 11 shares during the period. QCM Cayman Ltd. bought a new position in shares of Paychex during the 2nd quarter valued at $514,000. Finally, Sun Life Financial INC boosted its stake in shares of Paychex by 23,260.0% in the 2nd quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock worth $133,000 after buying an additional 2,326 shares during the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

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Shares of Paychex, Inc. (NASDAQ:PAYX) traded down 0.18% during midday trading on Monday, reaching $59.85. The company’s stock had a trading volume of 2,263,394 shares. The stock has a market capitalization of $21.51 billion, a PE ratio of 26.60 and a beta of 0.98. Paychex, Inc. has a 52 week low of $52.78 and a 52 week high of $63.03. The company has a 50 day moving average price of $56.38 and a 200-day moving average price of $58.35.

Several brokerages recently commented on PAYX. Morgan Stanley raised Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 price objective for the company in a report on Wednesday, August 16th. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and set a $61.00 price target on shares of Paychex in a research note on Friday, August 18th. BMO Capital Markets reaffirmed a “hold” rating and set a $60.00 price target on shares of Paychex in a research report on Thursday, June 29th. William Blair downgraded shares of Paychex from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Paychex from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $64.00 in a research report on Tuesday, June 20th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.28.

In other news, insider Michael E. Gioja sold 7,343 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $57.40, for a total value of $421,488.20. Following the completion of the transaction, the insider now owns 55,632 shares of the company’s stock, valued at $3,193,276.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Laurie L. Zaucha sold 2,884 shares of Paychex stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $57.39, for a total transaction of $165,512.76. Following the completion of the transaction, the vice president now owns 32,906 shares of the company’s stock, valued at approximately $1,888,475.34. The disclosure for this sale can be found here. Insiders have sold a total of 107,497 shares of company stock valued at $6,200,889 over the last three months. Corporate insiders own 11.70% of the company’s stock.

About Paychex

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.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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