Laffer Investments Decreased Paychex INC (PAYX) Stake by $85.03 Million as Shares Declined

May 16, 2018 - By Cynthia Ashman

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 turned negative due to PAYX positioning: 39 sold and 306 reduced. 93 funds took stakes and 226 increased stakes. Investors holded 238.82 million in 2017Q3 but now own 238.43 million shares or 0.16% less. Woodley Farra Manion Portfolio Management reported 11,000 shs. Steinberg Glob Asset Mgmt holds 122,122 shs. Central Bancorp & holds 0.06% or 3,526 shs. Employees Retirement System Of Texas invested in 0.01% or 17,000 shs. Bollard Gru Limited has invested 0.17% in Paychex, Inc. (NASDAQ:PAYX). 4,188 are held by Ifc Holdings Fl. Fiduciary Tru accumulated 7,054 shs or 0.01% of the stock. 450 are owned by Orrstown. Mufg Americas Hldgs invested 0.25% of its capital in Paychex, Inc. (NASDAQ:PAYX). Brinker, a Pennsylvania-based fund reported 62,164 shs. Commonwealth Of Pennsylvania School Empls Retrmt Systems invested in 28,606 shs or 0.03% of the stock. Baystate Wealth Mgmt Limited Co holds 0.01% in Paychex, Inc. (NASDAQ:PAYX) or 1,375 shs. Moreover, Alesco Advsrs Limited Liability has 0.32% invested in Paychex, Inc. (NASDAQ:PAYX) for 81,533 shs. Nuwave Mngmt Limited Liability holds 3,177 shs. London Commerce Of Virginia accumulated 3.47 million shs.

PAYX had 3 selling transactions and 0 insider purchases since January 4, 2018. This’s net activity of $9.83 million. Vossler Jennifer R. sold $682,900 worth of Paychex, Inc. (NASDAQ:PAYX) on Tuesday, January 16.

Laffer Investments’s stake in Paychex Inc (PAYX) is reduced by 3.04% based on its latest 2017Q4 regulatory filing with the SEC. The company’s stock declined 12.35% with the market as Laffer Investments sold 1,249 shares. At the end of 2017Q4, the 39,883 shares of the consumer services company held by the institutional investor were valued at $2.72 billion, down from 41,132 at the end of the previous reported quarter. $23.34 billion is the MC of Paychex Inc. The stock increased 1.07% or $0.69 during the last trading session, hitting $64.96.Paychex, Inc. has volume of 1.91 million shares. Since May 16, 2017 PAYX has declined 1.72% and is downtrending. PAYX underperformed by 13.27% the S&P 500.

About $614.32 million and $399.05 billion US Long portfolio Laffer Investments operates. It rose its stake in Alerian Mlp Etf (AMLP) by 624 shares to 1,783 shares, valued at $19.24 million in 2017Q4, according to the filing. For a total of 3,294 shares it increased its holding in Crown Castle Int Corp by 14 shares in the quarter, and has risen its stake in Amg Capital Trust Ii (AATRL).

Paychex, Inc. (NASDAQ:PAYX) is expected to report earnings on June, 27., according to Zacks. Analysts forecast $0.61 earnings per share, which is $0.07 up or 12.96 % from 2017’s $0.54 earnings per share. If $0.61 is reported, PAYX’s profit will hit $219.16 million for 26.62 P/E. Wall Street predicts -3.17 % negative EPS growth as of June, 27.

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 Thursday, December 21 the stock has “Hold” rating by Robert W. Baird. On Tuesday, January 9 the stock of Paychex, Inc. (NASDAQ:PAYX) earned “Hold” rating by Bank of America. On Monday, March 26 the firm has “Hold” rating given by Robert W. Baird. On Monday, March 26 the firm has “Sell” rating given by RBC Capital Markets. On Wednesday, March 28 the firm has “Neutral” rating given by Citigroup. In Monday, March 26 report Stifel Nicolaus maintained the stock with “Hold” rating. On Thursday, December 21 the firm earned “Hold” rating by BMO Capital Markets. On Thursday, December 21 the company was maintained by Stifel Nicolaus. On Thursday, December 21 RBC Capital Markets maintained the shares of PAYX in report with “Sell” rating. On Tuesday, March 27 the firm has “Neutral” rating given by JP Morgan.

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

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