Signition LP acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,580 shares of the business services provider’s stock, valued at approximately $720,000. Paychex makes up 0.9% of Signition LP’s portfolio, making the stock its 24th biggest position.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carnick & Kubik Group LLC bought a new position in shares of Paychex during the 3rd quarter worth approximately $1,332,000. Atlantic Trust Group LLC raised its stake in shares of Paychex by 22.7% during the 3rd quarter. Atlantic Trust Group LLC now owns 34,831 shares of the business services provider’s stock worth $2,088,000 after acquiring an additional 6,451 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Paychex by 1.4% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 213,833 shares of the business services provider’s stock worth $12,821,000 after acquiring an additional 2,855 shares in the last quarter. Reliance Trust Co. of Delaware raised its stake in shares of Paychex by 11.3% during the 3rd quarter. Reliance Trust Co. of Delaware now owns 16,686 shares of the business services provider’s stock worth $1,000,000 after acquiring an additional 1,691 shares in the last quarter. Finally, Bank of the Ozarks raised its stake in shares of Paychex by 25.9% during the 3rd quarter. Bank of the Ozarks now owns 8,035 shares of the business services provider’s stock worth $482,000 after acquiring an additional 1,655 shares in the last quarter. Hedge funds and other institutional investors own 67.98% of the company’s stock.
Several research analysts recently commented on the stock. Bank of America lowered shares of Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research note on Tuesday, January 9th. Royal Bank of Canada reiterated a “sell” rating and set a $57.00 price objective on shares of Paychex in a research note on Wednesday, November 15th. Citigroup upgraded shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price objective for the company in a research note on Monday, December 4th. BMO Capital Markets reissued a “hold” rating and set a $70.00 target price on shares of Paychex in a research report on Wednesday, January 24th. Finally, BidaskClub downgraded shares of Paychex from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $62.77.
Shares of Paychex, Inc. (NASDAQ:PAYX) opened at $64.63 on Wednesday. The firm has a market cap of $23,235.71, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 3.47 and a beta of 0.94. Paychex, Inc. has a 12-month low of $54.20 and a 12-month high of $73.10.
Paychex (NASDAQ:PAYX) last released its earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. The company had revenue of $826.50 million for the quarter, compared to the consensus estimate of $823.48 million. Paychex had a net margin of 26.02% and a return on equity of 42.80%. Paychex’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. analysts anticipate that Paychex, Inc. will post 2.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, January 31st. Paychex’s dividend payout ratio (DPR) is currently 85.84%.
In other news, VP Jennifer R. Vossler sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total value of $682,900.00. Following the sale, the vice president now directly owns 31,578 shares of the company’s stock, valued at approximately $2,156,461.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael E. Gioja sold 34,311 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total transaction of $2,364,371.01. Following the completion of the sale, the insider now directly owns 63,374 shares in the company, valued at $4,367,102.34. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.
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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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