Community Bank & Trust Waco Texas Has $4.27 Million Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Community Bank & Trust Waco Texas cut its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,848 shares of the business services provider’s stock after selling 2,956 shares during the period. Community Bank & Trust Waco Texas’ holdings in Paychex were worth $4,270,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PAYX. Outlook Wealth Advisors LLC acquired a new stake in shares of Paychex during the fourth quarter worth $214,000. Cerity Partners LLC increased its holdings in shares of Paychex by 80.2% during the fourth quarter. Cerity Partners LLC now owns 343,269 shares of the business services provider’s stock worth $40,887,000 after purchasing an additional 152,818 shares during the period. BKM Wealth Management LLC bought a new position in shares of Paychex during the fourth quarter worth approximately $1,229,000. Sequoia Financial Advisors LLC raised its position in shares of Paychex by 366.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 20,863 shares of the business services provider’s stock valued at $2,485,000 after buying an additional 16,391 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Paychex by 218.8% during the fourth quarter. Nordea Investment Management AB now owns 680,257 shares of the business services provider’s stock worth $80,794,000 after buying an additional 466,890 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Paychex Trading Up 0.5 %

NASDAQ:PAYX traded up $0.57 during trading hours on Wednesday, reaching $122.19. The company’s stock had a trading volume of 411,595 shares, compared to its average volume of 1,798,283. The firm has a market capitalization of $43.98 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 3.42 and a beta of 0.93. The firm has a 50-day simple moving average of $122.02 and a 200-day simple moving average of $120.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. 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 results on Tuesday, April 2nd. The business services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.01. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. Paychex’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. Research analysts expect that Paychex, Inc. will post 4.71 EPS for the current fiscal year.

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

Insider Buying and Selling at Paychex

In other news, VP Mark Anthony Bottini sold 15,481 shares of Paychex 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 sale, the vice president now directly owns 82,690 shares in the company, valued at $9,966,625.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 11.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Paychex 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.