Signition LP Takes Position in Paychex, Inc. (PAYX)

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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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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