Eqis Capital Management Inc. Purchases 1,690 Shares of Paychex, Inc. (NASDAQ:PAYX)

Eqis Capital Management Inc. raised its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,017 shares of the business services provider’s stock after buying an additional 1,690 shares during the quarter. Eqis Capital Management Inc.’s holdings in Paychex were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Paychex by 4,105.7% in the second quarter. Janus Henderson Group PLC now owns 1,830,532 shares of the business services provider’s stock valued at $104,230,000 after purchasing an additional 1,787,007 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Paychex by 2,391.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,362,988 shares of the business services provider’s stock valued at $77,609,000 after purchasing an additional 1,308,288 shares in the last quarter. Koch Industries Inc. grew its holdings in shares of Paychex by 13,529.1% in the second quarter. Koch Industries Inc. now owns 560,975 shares of the business services provider’s stock valued at $551,000 after purchasing an additional 556,859 shares in the last quarter. Shell Asset Management Co. grew its holdings in shares of Paychex by 200.1% in the third quarter. Shell Asset Management Co. now owns 527,872 shares of the business services provider’s stock valued at $23,332,000 after purchasing an additional 351,964 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of Paychex by 100.3% in the second quarter. Gotham Asset Management LLC now owns 537,760 shares of the business services provider’s stock valued at $30,620,000 after purchasing an additional 269,342 shares in the last quarter. 67.98% of the stock is owned by institutional investors and hedge funds.

In other Paychex news, insider Michael E. Gioja sold 34,311 shares of Paychex stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $68.91, for a total value of $2,364,371.01. Following the transaction, the insider now owns 63,374 shares in the company, valued at $4,367,102.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer R. Vossler sold 10,000 shares of Paychex stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total value of $682,900.00. Following the completion of the transaction, the vice president now owns 31,578 shares in the company, valued at approximately $2,156,461.62. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.

A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Paychex from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. BMO Capital Markets restated a “hold” rating and issued a $70.00 price target on shares of Paychex in a research report on Wednesday, January 24th. Bank of America downgraded Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price target for the company. in a research report on Tuesday, January 9th. Stifel Nicolaus restated a “hold” rating and issued a $68.00 price target on shares of Paychex in a research report on Friday, December 22nd. Finally, Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target for the company in a research report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.77.

Shares of Paychex, Inc. (NASDAQ:PAYX) opened at $64.69 on Tuesday. Paychex, Inc. has a 52-week low of $54.20 and a 52-week high of $73.10. The firm has a market capitalization of $23,220.00, a price-to-earnings ratio of 27.76, a PEG ratio of 3.45 and a beta of 0.95.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. The firm had revenue of $826.50 million during the quarter, compared to the consensus estimate of $823.48 million. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. equities analysts expect that Paychex, Inc. will post 2.39 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.09%. Paychex’s payout ratio is currently 85.84%.

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About Paychex

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.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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