Mutual of America Capital Management LLC cut its position in Paychex, Inc. (NASDAQ:PAYX) by 32.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,958 shares of the business services provider’s stock after selling 18,777 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Paychex were worth $2,218,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PAYX. BlackRock Inc. boosted its position in shares of Paychex by 2,782.5% during the 1st quarter. BlackRock Inc. now owns 25,717,903 shares of the business services provider’s stock worth $1,514,786,000 after acquiring an additional 24,825,695 shares in the last quarter. Vanguard Group Inc. increased its stake in Paychex by 2.6% in the first quarter. Vanguard Group Inc. now owns 22,453,468 shares of the business services provider’s stock valued at $1,322,509,000 after acquiring an additional 573,036 shares during the last quarter. State Street Corp increased its stake in Paychex by 2.2% in the first quarter. State Street Corp now owns 14,205,592 shares of the business services provider’s stock valued at $836,708,000 after acquiring an additional 309,889 shares during the last quarter. FMR LLC increased its stake in Paychex by 6.3% in the first quarter. FMR LLC now owns 9,866,100 shares of the business services provider’s stock valued at $581,112,000 after acquiring an additional 588,027 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Paychex by 23.8% in the first quarter. Ameriprise Financial Inc. now owns 4,237,537 shares of the business services provider’s stock valued at $248,742,000 after acquiring an additional 813,930 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

Several research analysts have commented on the stock. Wedbush restated a “neutral” rating and set a $61.25 price objective (down from $65.00) on shares of Paychex in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) downgraded Paychex from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $64.00 in a report on Tuesday, June 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $60.00 target price on shares of Paychex in a report on Thursday, June 29th. Robert W. Baird decreased their price target on Paychex from $63.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 30th. Finally, Morgan Stanley decreased their price target on Paychex from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, June 30th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $58.89.

In related news, VP Mark Anthony Bottini sold 7,139 shares of the firm’s stock in a transaction dated Sunday, July 9th. The stock was sold at an average price of $57.39, for a total transaction of $409,707.21. Following the transaction, the vice president now directly owns 46,548 shares of the company’s stock, valued at approximately $2,671,389.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael E. Gioja sold 7,343 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $57.40, for a total value of $421,488.20. Following the transaction, the insider now directly owns 55,632 shares in the company, valued at $3,193,276.80. The disclosure for this sale can be found here. Insiders sold a total of 107,497 shares of company stock valued at $6,200,889 over the last quarter. Company insiders own 11.70% of the company’s stock.

Paychex, Inc. (NASDAQ:PAYX) opened at 59.81 on Tuesday. The firm has a market cap of $21.50 billion, a P/E ratio of 26.58 and a beta of 0.98. Paychex, Inc. has a 1-year low of $52.78 and a 1-year high of $63.03. The stock has a 50 day moving average price of $57.42 and a 200 day moving average price of $58.17.

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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.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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