Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Donaldson Capital Management LLC

Donaldson Capital Management LLC trimmed its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 415,219 shares of the business services provider's stock after selling 7,511 shares during the period. Paychex makes up 2.2% of Donaldson Capital Management LLC's investment portfolio, making the stock its 20th largest holding. Donaldson Capital Management LLC owned 0.12% of Paychex worth $49,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. ST Germain D J Co. Inc. bought a new stake in Paychex during the second quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in Paychex during the third quarter valued at approximately $26,000. Carmel Capital Partners LLC bought a new stake in Paychex during the third quarter valued at approximately $28,000. Larson Financial Group LLC grew its position in Paychex by 91.5% during the third quarter. Larson Financial Group LLC now owns 272 shares of the business services provider's stock valued at $31,000 after buying an additional 130 shares during the period. Finally, DHJJ Financial Advisors Ltd. bought a new position in shares of Paychex in the third quarter worth approximately $33,000. 83.47% of the stock is owned by hedge funds and other institutional investors.

Paychex Trading Down 0.4 %

Shares of PAYX traded down $0.55 during midday trading on Monday, hitting $122.45. The stock had a trading volume of 2,137,955 shares, compared to its average volume of 1,797,093. Paychex, Inc. has a 1 year low of $104.09 and a 1 year high of $129.70. The firm has a market cap of $44.08 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The stock's 50 day moving average is $122.28 and its 200 day moving average is $120.12.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.37 by $0.01. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. As a group, analysts forecast that Paychex, Inc. will post 4.71 EPS for the current fiscal year.

Paychex declared that its Board of Directors has initiated a stock buyback program on Friday, January 19th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Paychex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, February 12th. Paychex's dividend payout ratio is presently 77.56%.

Insider Buying and Selling

In related news, VP Mark Anthony Bottini sold 15,481 shares of the firm's stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $120.53, for a total value of $1,865,924.93. Following the transaction, the vice president now owns 82,690 shares of the company's stock, valued at approximately $9,966,625.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PAYX has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Paychex from $108.00 to $111.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $130.00 price target on shares of Paychex in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. decreased their price target on shares of Paychex from $134.00 to $126.00 and set an "underweight" rating on the stock in a research note on Friday, December 22nd. TD Cowen decreased their price target on shares of Paychex from $122.00 to $121.00 and set a "hold" rating on the stock in a research note on Wednesday, April 3rd. Finally, Citigroup decreased their price target on shares of Paychex from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $123.00.

Paychex Profile

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, 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.