Laffer Investments Decreased Its Stake in Paychex INC (PAYX) by $85.03 Million; Shares Declined

May 16, 2018 - By Megan Stone

Paychex, Inc. (NASDAQ:PAYX) Corporate LogoBig Money Sentiment decreased to 0.92 in Q4 2017. It has change of 0.10, from 2017Q3’s 1.02. The ratio dropped due to PAYX positioning: 39 sold and 306 reduced. 93 funds acquired positions and 226 increased positions. Investors holded 238.82 million in 2017Q3 but now own 238.43 million shares or 0.16% less. Zevenbergen Invests Limited Co reported 0.03% stake. Guyasuta Investment Advisors Inc stated it has 0.06% in Paychex, Inc. (NASDAQ:PAYX). Ims Management holds 1.16% or 27,436 shs. Azimuth Management Ltd Liability Company invested in 70,008 shs. The Delaware-based Dupont Capital Mngmt Corporation has invested 0% in Paychex, Inc. (NASDAQ:PAYX). Hendershot Investments has 0.79% invested in Paychex, Inc. (NASDAQ:PAYX). Tributary Capital Management Ltd Liability Corporation stated it has 0.14% in Paychex, Inc. (NASDAQ:PAYX). Lazard Asset Mgmt Ltd Liability Corporation has 335,777 shs for 0.04% of their capital. Archford Cap Strategies Lc stated it has 6,594 shs or 0.17% of all its holdings. Schaper Benz And Wise Invest Counsel Wi holds 209,673 shs or 2.08% of its capital. Freestone Ltd Llc owns 0.33% invested in Paychex, Inc. (NASDAQ:PAYX) for 70,608 shs. Estabrook stated it has 900 shs. Smithbridge Asset Management De stated it has 3,600 shs. 294,146 are owned by Churchill Mngmt. Keystone Financial Planning invested 3.46% in Paychex, Inc. (NASDAQ:PAYX).

PAYX registered $9.83 million net activity with 0 insider buys and 3 sales since January 4, 2018. Another trade for 10,000 shs valued at $682,900 was made by Vossler Jennifer R. on Tuesday, January 16.

In Paychex Inc (PAYX) was reduced the stake owned by Laffer Investments. The decrease is 3.04% according to 2017Q4 Securities and Exchange form. The company’s stock declined 12.35% with the market as Laffer Investments sold 1,249 shares. The consumer services company reported $2.72 billion value for the 2017Q4. Now the institutional investor is holding 39,883 shares, compared to the 41,132 from the previous quarter. $23.34B is the market cap of Paychex Inc. Ticker’s shares touched $64.96 during the last trading session after 1.07% change.Paychex, Inc. has volume of 1.91M shares. Since May 16, 2017 PAYX has declined 1.72% and is downtrending. The stock underperformed the S&P500 by 13.27%.

Laffer Investments manages about $614.32 million and $399.05 billion US Long portfolio. It upped its stake in Welltower Inc Pfd by 824 shares to 36,095 shares, valued at $2.16 billion in 2017Q4, according to the filing. For a total of 1,544 shares it increased its holding in Citrix Inc by 17 shares in the quarter, and has risen its stake in Ares Capital Corp.

Investors wait Paychex, Inc. (NASDAQ:PAYX)’s quarterly earnings on June, 27., according to RTT. Analysts predict $0.61 earnings per share. That’s $0.07 up or 12.96 % from 2017’s earnings of $0.54. This could reach $219.16M profit for PAYX assuming the current $0.61 earnings per share will become reality. Analysts at Wall Street see Paychex, Inc.’s -3.17 % negative EPS growth compared to $0.63 earnings per share for last quarter.

Paychex, Inc. (NASDAQ:PAYX) Ratings Coverage

Total analysts of 9 have positions in Paychex (NASDAQ:PAYX) as follows: 1 rated it a “Buy”, 0 with “Sell” and 8 with “Hold”. The positive are 11%. Since November 20, 2017 according to StockzIntelligence Inc Paychex has 20 analyst reports. On Monday, January 22 BMO Capital Markets maintained the shares of PAYX in report with “Hold” rating. On Tuesday, January 9 the rating was downgraded by Bank of America to “Hold”. The company rating was maintained by Robert W. Baird on Thursday, December 21. On Monday, March 26 BMO Capital Markets maintained Paychex, Inc. (NASDAQ:PAYX) rating. BMO Capital Markets has “Hold” rating and $6300 target. In Thursday, December 21 report BMO Capital Markets maintained the stock with “Hold” rating. The stock rating was upgraded by Citigroup to “Hold” on Monday, December 4. On Thursday, December 21 Stifel Nicolaus maintained the shares of PAYX in report with “Hold” rating. The company rating was maintained by JP Morgan on Tuesday, March 27. On Thursday, December 21 the stock of Paychex, Inc. (NASDAQ:PAYX) earned “Sell” rating by RBC Capital Markets. On Monday, March 26 the stock of Paychex, Inc. (NASDAQ:PAYX) earned “Hold” rating by Robert W. Baird.

Paychex, Inc. (NASDAQ:PAYX) Institutional Investors Chart

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