Matrix Trust Co Sells 335 Shares of Paychex, Inc. (NASDAQ:PAYX)

Matrix Trust Co trimmed its stake in Paychex, Inc. (NASDAQ:PAYX) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,511 shares of the business services provider’s stock after selling 335 shares during the period. Matrix Trust Co’s holdings in Paychex were worth $1,490,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PAYX. Dohj LLC grew its position in Paychex by 3.1% during the fourth quarter. Dohj LLC now owns 3,242 shares of the business services provider’s stock valued at $386,000 after acquiring an additional 97 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its holdings in shares of Paychex by 1.2% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 18,887 shares of the business services provider’s stock worth $2,250,000 after purchasing an additional 230 shares during the last quarter. Van Cleef Asset Management Inc grew its holdings in shares of Paychex by 0.7% in the fourth quarter. Van Cleef Asset Management Inc now owns 141,445 shares of the business services provider’s stock worth $16,847,000 after purchasing an additional 960 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of Paychex in the fourth quarter worth approximately $300,000. Finally, Two Point Capital Management Inc. grew its holdings in shares of Paychex by 3.6% in the fourth quarter. Two Point Capital Management Inc. now owns 65,774 shares of the business services provider’s stock worth $7,834,000 after purchasing an additional 2,270 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paychex

In other news, VP Mark Anthony Bottini sold 15,481 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $120.53, for a total transaction of $1,865,924.93. Following the completion of the transaction, the vice president now directly owns 82,690 shares in the company, valued at $9,966,625.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.50% of the company’s stock.

Paychex Stock Down 1.6 %

Paychex stock traded down $2.00 on Friday, hitting $119.97. 2,400,533 shares of the stock traded hands, compared to its average volume of 2,120,168. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market cap of $43.18 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 3.44 and a beta of 0.93. The business’s fifty day simple moving average is $121.94 and its 200 day simple moving average is $120.36. Paychex, Inc. has a 1 year low of $104.09 and a 1 year high of $129.70.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.37 by $0.01. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.46 billion. Paychex had a return on equity of 46.14% and a net margin of 31.86%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 earnings per share. As a group, sell-side analysts forecast that Paychex, Inc. will post 4.71 earnings per share for the current year.

Paychex declared that its Board of Directors has authorized a stock repurchase plan on Friday, January 19th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore ISI restated an “in-line” rating and issued a $118.00 target price on shares of Paychex in a report on Tuesday, March 26th. Bank of America raised their target price on shares of Paychex from $108.00 to $111.00 and gave the stock an “underperform” rating in a report on Wednesday, April 3rd. TD Cowen cut their target price on shares of Paychex from $122.00 to $121.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $130.00 target price on shares of Paychex in a report on Wednesday, April 3rd. Finally, Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of Paychex in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat.com, Paychex presently has a consensus rating of “Hold” and an average target price of $123.00.

Paychex Company 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.