Cwm LLC Sells 1,156 Shares of Paychex, Inc. (NASDAQ:PAYX)

Cwm LLC reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,466 shares of the business services provider’s stock after selling 1,156 shares during the period. Cwm LLC’s holdings in Paychex were worth $2,849,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its stake in Paychex by 220.7% during the fourth quarter. Meeder Asset Management Inc. now owns 186 shares of the business services provider’s stock valued at $26,000 after buying an additional 128 shares during the period. WealthTrak Capital Management LLC purchased a new position in shares of Paychex in the fourth quarter worth about $28,000. Millstone Evans Group LLC purchased a new position in shares of Paychex in the fourth quarter worth about $33,000. Alpine Bank Wealth Management purchased a new position in Paychex during the 1st quarter valued at about $34,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Paychex during the 1st quarter worth approximately $34,000. 83.47% of the stock is owned by institutional investors.

Paychex Stock Up 0.7%

Shares of NASDAQ:PAYX opened at $143.29 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.39 and a debt-to-equity ratio of 1.10. Paychex, Inc. has a 12 month low of $121.33 and a 12 month high of $161.24. The company has a 50-day moving average price of $151.33 and a 200 day moving average price of $148.21. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 3.26 and a beta of 0.88.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Wednesday, June 25th. The business services provider reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. Paychex had a net margin of 29.75% and a return on equity of 45.01%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm earned $1.12 EPS. As a group, equities research analysts predict that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, July 21st will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, July 21st. Paychex’s payout ratio is 94.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PAYX shares. Cfra Research upgraded shares of Paychex to a “hold” rating in a research note on Thursday, March 27th. UBS Group cut their price target on Paychex from $155.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, June 26th. Jefferies Financial Group set a $140.00 price target on Paychex and gave the stock a “hold” rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on Paychex from $140.00 to $148.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 18th. Finally, Stifel Nicolaus cut their price target on Paychex from $156.00 to $152.00 and set a “hold” rating for the company in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $150.20.

Insider Transactions at Paychex

In other Paychex news, Chairman Martin Mucci sold 97,526 shares of the firm’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $145.17, for a total value of $14,157,849.42. Following the completion of the sale, the chairman owned 446,917 shares of the company’s stock, valued at $64,878,940.89. This trade represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John B. Gibson sold 12,370 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total transaction of $1,755,550.40. Following the completion of the sale, the chief executive officer directly owned 81,755 shares of the company’s stock, valued at approximately $11,602,669.60. The trade was a 13.14% decrease in their position. The disclosure for this sale can be found here. 11.40% of the stock is currently owned by company insiders.

Paychex 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.