First National Corp MA ADV Lowers Stake in Paychex, Inc. (NASDAQ:PAYX)

First National Corp MA ADV decreased its position in Paychex, Inc. (NASDAQ:PAYX) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,832 shares of the business services provider’s stock after selling 635 shares during the quarter. First National Corp MA ADV’s holdings in Paychex were worth $514,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PAYX. Meeder Asset Management Inc. lifted its stake in Paychex by 286.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after acquiring an additional 163 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Paychex by 227.6% in the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 173 shares during the period. ESL Trust Services LLC acquired a new position in shares of Paychex in the first quarter valued at approximately $31,000. Chilton Capital Management LLC purchased a new stake in Paychex during the 1st quarter worth approximately $31,000. Finally, American National Bank lifted its holdings in Paychex by 166.7% during the 2nd quarter. American National Bank now owns 288 shares of the business services provider’s stock worth $34,000 after buying an additional 180 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Paychex

In other news, VP Michael E. Gioja sold 14,731 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $139.18, for a total transaction of $2,050,260.58. Following the transaction, the vice president now directly owns 14,515 shares in the company, valued at $2,020,197.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Paychex news, VP Michael E. Gioja sold 14,731 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $139.18, for a total value of $2,050,260.58. Following the completion of the sale, the vice president now owns 14,515 shares of the company’s stock, valued at approximately $2,020,197.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John B. Gibson sold 12,670 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $119.53, for a total transaction of $1,514,445.10. Following the completion of the transaction, the chief executive officer now owns 55,745 shares of the company’s stock, valued at $6,663,199.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,404 shares of company stock worth $7,686,345. Company insiders own 11.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group upped their price objective on Paychex from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen increased their target price on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Robert W. Baird decreased their price target on Paychex from $126.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Stifel Nicolaus raised their target price on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $130.77.

Paychex Stock Performance

PAYX traded up $0.81 on Wednesday, hitting $138.97. 81,934 shares of the company traded hands, compared to its average volume of 1,817,955. Paychex, Inc. has a 12-month low of $106.27 and a 12-month high of $142.04. The company has a 50 day moving average of $130.86 and a 200-day moving average of $125.10. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $50.02 billion, a PE ratio of 29.58, a PEG ratio of 3.82 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last released its quarterly earnings results on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Company Profile

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), 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.