Capital Investment Advisors LLC raised its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 407.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,479 shares of the business services provider’s stock after acquiring an additional 51,768 shares during the quarter. Capital Investment Advisors LLC’s holdings in Paychex were worth $4,390,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of PAYX. Salem Investment Counselors Inc. increased its holdings in Paychex by 0.6% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 11 shares in the last quarter. Sun Life Financial INC increased its holdings in Paychex by 23,260.0% during the 2nd quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 2,326 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in Paychex during the 2nd quarter valued at about $145,000. Bank of Nova Scotia Trust Co. purchased a new position in Paychex during the 3rd quarter valued at about $188,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Paychex during the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.
Paychex, Inc. (NASDAQ PAYX) traded up $0.60 on Wednesday, hitting $68.26. 3,478,200 shares of the company traded hands, compared to its average volume of 2,254,510. Paychex, Inc. has a twelve month low of $54.20 and a twelve month high of $70.39. The firm has a market capitalization of $24,860.00, a PE ratio of 29.30, a PEG ratio of 3.65 and a beta of 0.99.
Paychex (NASDAQ:PAYX) last released its earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The business had revenue of $826.50 million for the quarter, compared to analysts’ expectations of $823.48 million. During the same period last year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. sell-side analysts anticipate that Paychex, Inc. will post 2.38 earnings per share for the current year.
In related news, VP John B. Gibson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $63.70, for a total value of $382,200.00. Following the sale, the vice president now directly owns 21,758 shares of the company’s stock, valued at $1,385,984.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer R. Vossler sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total transaction of $682,900.00. Following the completion of the sale, the vice president now directly owns 31,578 shares in the company, valued at $2,156,461.62. The disclosure for this sale can be found here. Insiders sold 50,311 shares of company stock worth $3,429,471 over the last three months. Corporate insiders own 11.70% of the company’s stock.
PAYX has been the subject of a number of recent research reports. BidaskClub upgraded shares of Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Stifel Nicolaus reiterated a “hold” rating and set a $68.00 price target on shares of Paychex in a report on Friday, December 22nd. Robert W. Baird reiterated a “hold” rating and set a $64.00 price target on shares of Paychex in a report on Wednesday, October 4th. Bank of America lifted their price target on shares of Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, December 5th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $62.00 price target (up from $60.00) on shares of Paychex in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.10.
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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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