Country Club Trust Company n.a. grew its position in Paychex, Inc. (NASDAQ:PAYX) by 26.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,258 shares of the business services provider’s stock after acquiring an additional 16,808 shares during the quarter. Country Club Trust Company n.a.’s holdings in Paychex were worth $5,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PAYX. Salem Investment Counselors Inc. increased its stake in Paychex by 0.6% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock worth $102,000 after buying an additional 11 shares during the period. Bruderman Asset Management LLC increased its stake in Paychex by 0.6% in the 2nd quarter. Bruderman Asset Management LLC now owns 6,834 shares of the business services provider’s stock worth $389,000 after buying an additional 40 shares during the period. Glenview Trust Co increased its stake in Paychex by 1.5% in the 2nd quarter. Glenview Trust Co now owns 10,375 shares of the business services provider’s stock worth $591,000 after buying an additional 150 shares during the period. Ropes Wealth Advisors LLC increased its stake in Paychex by 3.9% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,588 shares of the business services provider’s stock worth $261,000 after buying an additional 171 shares during the period. Finally, Profund Advisors LLC increased its stake in Paychex by 0.9% in the 2nd quarter. Profund Advisors LLC now owns 27,001 shares of the business services provider’s stock worth $1,537,000 after buying an additional 229 shares during the period. 67.85% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Michael E. Gioja sold 34,311 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $68.91, for a total value of $2,364,371.01. Following the sale, the insider now directly owns 63,374 shares in the company, valued at approximately $4,367,102.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John B. Gibson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $63.70, for a total transaction of $382,200.00. Following the completion of the sale, the vice president now owns 21,758 shares in the company, valued at $1,385,984.60. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by company insiders.

Several research analysts recently commented on the stock. Wells Fargo & Co raised their price target on shares of Paychex from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 4th. Royal Bank of Canada reiterated a “sell” rating and set a $57.00 target price on shares of Paychex in a report on Wednesday, November 15th. Bank of America cut shares of Paychex from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a report on Tuesday. Citigroup reiterated a “sell” rating and set a $53.00 target price on shares of Paychex in a report on Monday, October 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $59.00 target price (up from $55.00) on shares of Paychex in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.10.

Shares of Paychex, Inc. (PAYX) traded down $0.68 during trading on Friday, reaching $66.86. 2,199,600 shares of the company’s stock traded hands, compared to its average volume of 2,131,212. Paychex, Inc. has a one year low of $54.20 and a one year high of $70.39. The company has a market cap of $24,280.00, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.71 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last issued its earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The company had revenue of $826.50 million for the quarter, compared to analysts’ expectations of $823.48 million. During the same period in the prior year, the business earned $0.56 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. sell-side analysts predict that Paychex, Inc. will post 2.38 EPS for the current year.

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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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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