Morgan Dempsey Capital Management LLC Has Trimmed Its Paychex INC (PAYX) Position by $8.50 Million; Share Value Declined

July 11, 2018 - By Dolores Ford

Paychex, Inc. (NASDAQ:PAYX) LogoInvestors sentiment decreased to 0.84 in 2018 Q1. Its down 0.08, from 0.92 in 2017Q4. It worsened, as 56 investors sold PAYX shares while 306 reduced holdings. 76 funds opened positions while 228 raised stakes. 238.99 million shares or 0.23% more from 238.43 million shares in 2017Q4 were reported. Moreover, Bartlett & Limited Liability has 0% invested in Paychex, Inc. (NASDAQ:PAYX). Moreover, Gateway Inv Advisers Limited Liability Co has 0.12% invested in Paychex, Inc. (NASDAQ:PAYX). Savings Bank Of Nova Scotia reported 206,932 shares. Sun Life reported 1,129 shares. 6,429 were accumulated by Wright Invsts. Strs Ohio reported 0% in Paychex, Inc. (NASDAQ:PAYX). 30,882 are held by Norinchukin Bancorp The. Mitchell Mcleod Pugh & Williams owns 0.28% invested in Paychex, Inc. (NASDAQ:PAYX) for 6,452 shares. Peoples Finance Services has 180 shares. Marshwinds Advisory invested 0.19% of its portfolio in Paychex, Inc. (NASDAQ:PAYX). Dowling & Yahnke Limited Liability invested in 0.04% or 7,573 shares. Moors And Cabot reported 0.05% in Paychex, Inc. (NASDAQ:PAYX). Guardian Life Ins Com Of America, a New York-based fund reported 736 shares. Pennsylvania Trust reported 16,466 shares. Atlantic Grp Inc Limited Liability has invested 0.01% in Paychex, Inc. (NASDAQ:PAYX).

Since January 16, 2018, it had 0 insider purchases, and 4 insider sales for $8.09 million activity. Shares for $200,135 were sold by VELLI JOSEPH M on Friday, May 18. 10,000 shares were sold by Vossler Jennifer R., worth $682,900 on Tuesday, January 16. The insider TUCCI JOSEPH M sold 6,250 shares worth $428,938.

Morgan Dempsey Capital Management Llc decreased its stake in Paychex Inc. (PAYX) by 0.15% based on its latest 2018Q1 regulatory filing with the SEC. Morgan Dempsey Capital Management Llc sold 138 shares as the company’s stock declined 1.39% with the market. The hedge fund held 89,844 shares of the consumer services company at the end of 2018Q1, valued at $5.53 billion, down from 89,982 at the end of the previous reported quarter. Morgan Dempsey Capital Management Llc who had been investing in Paychex Inc. for a number of months, seems to be less bullish one the $24.97B market cap company. The stock decreased 0.22% or $0.15 during the last trading session, reaching $69.54. About 1.37 million shares traded. Paychex, Inc. (NASDAQ:PAYX) has risen 11.49% since July 11, 2017 and is uptrending. It has underperformed by 1.08% the S&P500.

Morgan Dempsey Capital Management Llc, which manages about $340.50 million and $254.49 billion US Long portfolio, upped its stake in Merck & Co. Inc. (NYSE:MRK) by 1,120 shares to 102,533 shares, valued at $5.58 billion in 2018Q1, according to the filing. It also increased its holding in Duke Energy Corporation (NYSE:DUK) by 84 shares in the quarter, for a total of 59,702 shares, and has risen its stake in Verizon Communications Inc. (NYSE:VZ).

Analysts await Paychex, Inc. (NASDAQ:PAYX) to report earnings on October, 2. They expect $0.69 earnings per share, up 11.29 % or $0.07 from last year’s $0.62 per share. PAYX’s profit will be $247.71M for 25.20 P/E if the $0.69 EPS becomes a reality. After $0.61 actual earnings per share reported by Paychex, Inc. for the previous quarter, Wall Street now forecasts 13.11 % EPS growth.

Another recent and important Paychex, Inc. (NASDAQ:PAYX) news was published by Seekingalpha.com which published an article titled: “You’re Paying How Much For Paychex?” on July 11, 2018.

Paychex, Inc. (NASDAQ:PAYX) Ratings Coverage

Among 11 analysts covering Paychex (NASDAQ:PAYX), 1 have Buy rating, 0 Sell and 10 Hold. Therefore 9% are positive. Paychex had 16 analyst reports since January 22, 2018 according to SRatingsIntel. On Tuesday, April 17 the stock rating was downgraded by Bank of America to “Hold”. The rating was maintained by Robert W. Baird on Thursday, June 28 with “Neutral”. The firm earned “Neutral” rating on Thursday, June 28 by Citigroup. BMO Capital Markets maintained Paychex, Inc. (NASDAQ:PAYX) on Monday, January 22 with “Hold” rating. Wells Fargo maintained Paychex, Inc. (NASDAQ:PAYX) on Thursday, June 28 with “Market Perform” rating. The company was maintained on Thursday, June 28 by Stifel Nicolaus. The rating was maintained by Stifel Nicolaus on Monday, March 26 with “Hold”. The rating was upgraded by RBC Capital Markets on Monday, April 2 to “Hold”. Robert W. Baird maintained Paychex, Inc. (NASDAQ:PAYX) rating on Monday, March 26. Robert W. Baird has “Hold” rating and $6700 target. As per Monday, March 26, the company rating was maintained by RBC Capital Markets.

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

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