Gerstein Fisher raised its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,434 shares of the company’s stock after buying an additional 50 shares during the period. Gerstein Fisher’s holdings in Paychex were worth $604,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of PAYX. KCM Investment Advisors LLC raised its stake in Paychex by 41.4% in the third quarter. KCM Investment Advisors LLC now owns 4,903 shares of the company’s stock worth $284,000 after buying an additional 1,436 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in Paychex by 38.9% in the third quarter. Cetera Advisor Networks LLC now owns 23,851 shares of the company’s stock worth $1,380,000 after buying an additional 6,679 shares in the last quarter. Cetera Advisors LLC raised its stake in Paychex by 5.4% in the third quarter. Cetera Advisors LLC now owns 11,856 shares of the company’s stock worth $687,000 after buying an additional 606 shares in the last quarter. Bell State Bank & Trust raised its stake in Paychex by 3.5% in the third quarter. Bell State Bank & Trust now owns 59,302 shares of the company’s stock worth $3,432,000 after buying an additional 1,996 shares in the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new stake in Paychex during the third quarter worth approximately $2,418,000. 68.91% of the stock is owned by institutional investors.
Shares of Paychex, Inc. (NASDAQ:PAYX) traded up 0.14% during midday trading on Wednesday, hitting $57.65. 1,671,210 shares of the stock traded hands. Paychex, Inc. has a 12-month low of $46.08 and a 12-month high of $62.18. The firm’s 50 day moving average price is $60.62 and its 200 day moving average price is $58.90. The company has a market capitalization of $20.69 billion, a PE ratio of 26.81 and a beta of 0.86.
Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, December 21st. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The firm had revenue of $771.40 million for the quarter, compared to analysts’ expectations of $778.99 million. Paychex had a return on equity of 41.00% and a net margin of 25.40%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. Analysts expect that Paychex, Inc. will post $2.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Wednesday, February 1st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.19%. The ex-dividend date is Monday, January 30th. Paychex’s payout ratio is 85.58%.
PAYX has been the subject of a number of research analyst reports. Argus reissued a “buy” rating and issued a $70.00 price target on shares of Paychex in a research report on Friday, December 23rd. Goldman Sachs Group, Inc. (The) raised shares of Paychex from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Friday, December 16th. Barclays PLC initiated coverage on shares of Paychex in a research report on Tuesday, December 20th. They issued an “equal weight” rating and a $63.00 price target for the company. Deutsche Bank AG reissued a “hold” rating and issued a $62.00 price target (up from $56.00) on shares of Paychex in a research report on Friday, December 23rd. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $61.00 price target (up from $57.00) on shares of Paychex in a research report on Friday, December 23rd. Seven research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.00.
In other Paychex news, VP Jennifer R. Vossler sold 5,876 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $62.01, for a total value of $364,370.76. Following the sale, the vice president now owns 23,483 shares in the company, valued at approximately $1,456,180.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael E. Gioja sold 24,726 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $60.72, for a total value of $1,501,362.72. Following the completion of the sale, the insider now owns 55,984 shares in the company, valued at approximately $3,399,348.48. The disclosure for this sale can be found here. Insiders sold a total of 70,202 shares of company stock worth $4,290,754 in 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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