Motley Fool Wealth Management LLC boosted its position in Paychex, Inc. (NASDAQ:PAYX) by 17.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,891 shares of the company’s stock after buying an additional 2,211 shares during the period. Motley Fool Wealth Management LLC’s holdings in Paychex were worth $907,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of PAYX. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Paychex by 1.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 24,820 shares of the company’s stock worth $1,476,000 after buying an additional 380 shares in the last quarter. American Research & Management Co. boosted its stake in Paychex by 4.7% in the second quarter. American Research & Management Co. now owns 69,435 shares of the company’s stock worth $4,131,000 after buying an additional 3,120 shares in the last quarter. Nordea Investment Management AB boosted its stake in Paychex by 1.0% in the second quarter. Nordea Investment Management AB now owns 32,822 shares of the company’s stock worth $1,953,000 after buying an additional 318 shares in the last quarter. Alley Co LLC boosted its stake in Paychex by 2.3% in the second quarter. Alley Co LLC now owns 106,297 shares of the company’s stock worth $6,325,000 after buying an additional 2,434 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. boosted its stake in Paychex by 62.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 7,260 shares of the company’s stock worth $432,000 after buying an additional 2,789 shares in the last quarter. 69.28% of the stock is currently owned by institutional investors and hedge funds.
Paychex, Inc. (NASDAQ:PAYX) opened at 59.27 on Wednesday. The firm has a market capitalization of $21.27 billion, a P/E ratio of 27.57 and a beta of 0.86. The firm has a 50-day moving average price of $60.33 and a 200 day moving average price of $58.85. Paychex, Inc. has a 52-week low of $50.05 and a 52-week high of $62.18.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, December 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Paychex had a return on equity of 41.00% and a net margin of 25.40%. The business had revenue of $771.40 million for the quarter, compared to the consensus estimate of $778.99 million. During the same period in the prior year, the business earned $0.52 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. Analysts forecast that Paychex, Inc. will post $2.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 1st will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $1.84 annualized dividend and a dividend yield of 3.10%. Paychex’s dividend payout ratio is currently 85.58%.
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PAYX has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) raised shares of Paychex from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Friday, December 16th. RBC Capital Markets set a $54.00 price target on shares of Paychex and gave the company a “sell” rating in a research note on Thursday, December 22nd. Sanford C. Bernstein reissued an “underperform” rating and issued a $52.00 price target on shares of Paychex in a research note on Wednesday, December 21st. Argus reissued a “buy” rating and issued a $70.00 price target on shares of Paychex in a research note on Friday, December 23rd. Finally, Barclays PLC initiated coverage on shares of Paychex in a research note on Tuesday, December 20th. They issued an “equal weight” rating and a $63.00 price target on the stock. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Paychex presently has an average rating of “Hold” and a consensus price target of $57.00.
In related news, Director David J. S. Flaschen sold 10,250 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $61.05, for a total transaction of $625,762.50. Following the transaction, the director now directly owns 28,541 shares in the company, valued at $1,742,428.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer R. Vossler sold 5,876 shares of the stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $62.01, for a total value of $364,370.76. Following the transaction, the vice president now owns 23,483 shares in the company, valued at $1,456,180.83. The disclosure for this sale can be found here. Insiders sold 70,202 shares of company stock worth $4,290,754 over the last 90 days. Company insiders own 11.60% of the company’s stock.
Paychex Company Profile
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. 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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