Economy

Paychex, Inc. (NASDAQ:PAYX) Trading Volume Significantly Higher

Paychex, Inc. (NASDAQ:PAYX) Trading Volume Significantly Higher”

State Street Corp is the second biggest holder with 14 million shares now valued at 789.03 million whilst Fidelity Management and Research Company has 10 million shares valued at 586.57 million.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings results on Tuesday, September 26th. OxFORD Asset Management LLP owned approximately 0.06% of Paychex at the end of the most recent quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in PAYX.

The Rochester-area based company says the adjusted net income of almost $223 million was up 9% compared to a year ago, and earnings per share of.62 topped analysts' estimates by 2 cents. Nelson Roberts Investment Advisors LLC now owns 86,530 shares of the business services provider's stock valued at $5,097,000 after buying an additional 492 shares during the period. Xact Kapitalforvaltning AB boosted its stake in Paychex by 15.0% in the 1st quarter. Year to date is 150.94%, 30.39% over the last quarter, 61.21% for the past six months and 111.45% over the last 12 months. The stock decreased 0.89% or $0.002 on October 2, reaching $0.268. Moving out to look at the previous month performance, the stock is at 4.87%. The fund owned 149,465 shares of the business services provider's stock after selling 7,624 shares during the quarter. Canandaigua National Bank & Trust Co. raised its position in shares of Paychex by 1.9% in the first quarter. Parkside Financial Bank & Trust now owns 2,935 shares of the business services provider's stock valued at $173,000 after purchasing an additional 564 shares during the last quarter.

Shares of Paychex, Inc. "(PAYX) Acquired by OxFORD Asset Management LLP" was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another website, it was illegally copied and reposted in violation of United States and global copyright and trademark laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2017/10/03/brookmont-capital-management-has-8-51-million-stake-in-paychex-inc-payx.html.

PAYX has been the subject of several research reports. The firm exchanged a volume of 5.61 million shares at hands. BMO Capital Markets reissued a "hold" rating and issued a $60.00 target price on shares of Paychex in a research report on Thursday, June 29th. William Blair downgraded shares of Paychex from an "outperform" rating to a "market perform" rating in a research report on Friday, July 21st. Morgan Stanley dropped their target price on shares of Paychex from $56.00 to $55.00 and set an "underweight" rating for the company in a report on Friday, June 30th.

Valued now at $61.99, the vast majority of Wall Street analysts continue to say it's worth selling. Their average price target spell out an upbeat performance - a -5% and would give PAYX a market capitalization of almost $21.3B.

Some buy side analysts are also providing their Analysis on Paychex, Inc., where 2 analysts have rated the stock as Strong buy, 0 analysts have given a Buy signal, 14 said it's a HOLD, 1 reported it as Underperform and 2 analysts rated the stock as Sell.

Paychex, Inc. (PAYX) shares are up 3.42% for the week and that has got investors and traders sitting up and taking note. Baird Financial Group, Inc. grew its investment by buying 15,173 shares an increase of 3.2% from 03/31/2017 to 06/30/2017. The stock has a market capitalization of $22.19 billion, a PE ratio of 27.44 and a beta of 0.98. The firm's 50 day moving average price is $57.42 and its 200-day moving average price is $58.17. Barclays Capital initiated the shares of PAYX in report on Tuesday, December 20 with "Equal Weight" rating. (NASDAQ:PAYX) for 4,025 shares. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. The disclosure for this sale can be found here. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.



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