Northwest Quadrant Wealth Management LLC Reduces Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

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Northwest Quadrant Wealth Management LLC reduced its holdings in Paychex, Inc. (NASDAQ:PAYX) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,321 shares of the business services provider’s stock after selling 181 shares during the period. Northwest Quadrant Wealth Management LLC’s holdings in Paychex were worth $245,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PAYX. Public Employees Retirement Association of Colorado raised its position in shares of Paychex by 2.6% in the first quarter. Public Employees Retirement Association of Colorado now owns 60,377 shares of the business services provider’s stock valued at $3,799,000 after buying an additional 1,515 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Paychex by 6.5% in the first quarter. Parametric Portfolio Associates LLC now owns 1,066,230 shares of the business services provider’s stock valued at $67,087,000 after purchasing an additional 65,070 shares during the period. BancorpSouth Bank purchased a new stake in shares of Paychex in the first quarter valued at about $2,989,000. Franklin Resources Inc. grew its holdings in shares of Paychex by 13.0% in the first quarter. Franklin Resources Inc. now owns 246,942 shares of the business services provider’s stock valued at $15,538,000 after purchasing an additional 28,497 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Paychex by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,233,795 shares of the business services provider’s stock valued at $275,067,000 after purchasing an additional 181,275 shares during the period. 68.63% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:PAYX traded down $2.38 during mid-day trading on Thursday, hitting $72.17. The stock had a trading volume of 32,342 shares, compared to its average volume of 2,304,346. The stock has a 50-day simple moving average of $73.60 and a two-hundred day simple moving average of $75.51. The company has a market capitalization of $26.52 billion, a PE ratio of 24.00, a PEG ratio of 3.37 and a beta of 0.95. Paychex, Inc. has a twelve month low of $47.87 and a twelve month high of $90.54. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, July 7th. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Paychex had a net margin of 27.18% and a return on equity of 41.40%. The company had revenue of $915.10 million for the quarter, compared to analysts’ expectations of $910.68 million. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Sell-side analysts predict that Paychex, Inc. will post 2.74 EPS for the current fiscal year.

PAYX has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on shares of Paychex from $68.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday. Citigroup increased their target price on shares of Paychex from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday. Stifel Nicolaus lowered their target price on shares of Paychex from $87.00 to $55.00 and set a “hold” rating for the company in a research note on Tuesday, March 24th. Robert W. Baird lowered their price objective on shares of Paychex from $87.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Paychex from $91.00 to $70.00 and set an “underweight” rating for the company in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Paychex currently has an average rating of “Hold” and a consensus price target of $73.27.

About Paychex

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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