(PAYX) Earns Sell Rating from Royal Bank Of Canada

Cornelia Mascio
Novembre 19, 2017

Moreover, Charter Trust has 0.09% invested in Paychex, Inc. (NASDAQ:PAYX) by 12.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. Following the sale, the vice president now owns 47,007 shares of the company's stock, valued at $2,820,890.07. Confluence Investment Management LLC increased its stake in shares of Paychex by 4.9% in the third quarter.

Several large investors have recently made changes to their positions in PAYX. Moors & Cabot Inc. raised its position in Paychex by 20.4% during the third quarter. Dean Investment Associates LLC now owns 18,973 shares of the business services provider's stock worth $1,098,000 after buying an additional 1,381 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Paychex by 0.3% in the 2nd quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider's stock worth $133,000 after purchasing an additional 2,326 shares during the last quarter. Northwest Quadrant Wealth Management LLC grew its stake in shares of Paychex by 0.6% in the 2nd quarter. Kernodle & Katon Asset Management Group LLC now owns 3,166 shares of the business services provider's stock worth $186,000 after purchasing an additional 867 shares during the last quarter. Washington Trust Bank grew its stake in shares of Paychex by 0.4% in the 2nd quarter. P/E provides a number that details how many years of earnings it will take a stock to recoup the value of one share at current price levels. Northwest Quadrant Wealth Management LLC now owns 3,923 shares of the business services provider's stock worth $228,000 after buying an additional 24 shares in the last quarter. Institutional investors own 67.02% of the company's stock.

Several analysts have recently commented on the stock. The rating was downgraded by William Blair to "Hold" on Friday, July 21. Wells Fargo & Company increased their price target on shares of Paychex from $58.00 to $60.00 and gave the company a "market perform" rating in a research note on Wednesday, October 4th. Royal Bank of Canada set a $55.00 price target on shares of Paychex and gave the stock a "sell" rating in a report on Saturday, January 21st. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a "market perform" rating and set a $62.00 price target (up from $60.00) on shares of Paychex in a research note on Wednesday, October 4th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company's stock. Paychex has an average rating of "Hold" and an average target price of $60.07.

Paychex, Inc. (NASDAQ:PAYX) appreciated by 1.64% at $65.64. (NASDAQ:PAYX). Amp Limited holds 0.04% or 115,454 shares in its portfolio. Calculated by dividing Paychex, Inc.'s annual earnings by its total assets, investors will note a return on assets of 12.00%. The stock has a market cap of $23,205.48, a PE ratio of 28.45, a PEG ratio of 3.50 and a beta of 0.99. (NASDAQ:PAYX) on Tuesday, October 3 with "Hold" rating. After $0.62 actual EPS reported by Paychex, Inc. for the previous quarter, Wall Street now forecasts -4.84% negative EPS growth. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The company had revenue of $816.80 million during the quarter, compared to analysts' expectations of $816.34 million. It last reported revenues of $222.38 million and EPS of $0.09 for the September 2017, representing 19% top-line growth and 0.02 EPS growth. During the same period last year, the firm posted $0.60 earnings per share. research analysts anticipate that Paychex, Inc. will post 2.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, May 8th.

In the most updated research from a number of analysts on Wall Street, the company gets 2 Buys and 3 Sell among 19 analysts. Paychex's dividend payout ratio is 87.34%. BMO Capital Markets maintained Paychex, Inc. It also upped Blackrock Inc (NYSE:BLK) stake by 5,114 shares and now owns 5,158 shares. (NASDAQ:PAYX) in a report published on Wednesday morning. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and global copyright and trademark laws. (NASDAQ:PAYX). Grandfield And Dodd Limited Com owns 2.57% invested in Paychex, Inc. The shares were sold at an average price of $63.07, for a total transaction of $703,545.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

In other Paychex news, Director Joseph M. Velli sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, April 20th. The disclosure for this sale can be found here. Insiders sold 94,395 shares of company stock worth $5,914,383 in the last 90 days.

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 Firm also has activities in Germany.

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