Honkamp Krueger Financial Services Inc. Sells 2,127 Shares of Paychex, Inc. (PAYX)

Honkamp Krueger Financial Services Inc. reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,377 shares of the business services provider’s stock after selling 2,127 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Paychex were worth $366,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Alley Co LLC raised its holdings in Paychex by 0.7% during the third quarter. Alley Co LLC now owns 119,536 shares of the business services provider’s stock valued at $7,167,000 after acquiring an additional 785 shares during the period. Summit Securities Group LLC raised its holdings in Paychex by 22.2% during the fourth quarter. Summit Securities Group LLC now owns 4,400 shares of the business services provider’s stock valued at $300,000 after acquiring an additional 800 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Paychex by 1.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 81,606 shares of the business services provider’s stock valued at $4,893,000 after acquiring an additional 817 shares during the period. YHB Investment Advisors Inc. raised its holdings in Paychex by 1.4% during the fourth quarter. YHB Investment Advisors Inc. now owns 60,669 shares of the business services provider’s stock valued at $4,130,000 after acquiring an additional 828 shares during the period. Finally, Raymond James Trust N.A. raised its holdings in Paychex by 1.1% during the fourth quarter. Raymond James Trust N.A. now owns 78,177 shares of the business services provider’s stock valued at $5,322,000 after acquiring an additional 837 shares during the period. 67.98% of the stock is currently owned by institutional investors.

PAYX has been the topic of a number of recent analyst reports. BidaskClub raised Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Stifel Nicolaus restated a “hold” rating and set a $68.00 price objective on shares of Paychex in a research report on Friday, December 22nd. Bank of America raised their price objective on Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, December 5th. BMO Capital Markets restated a “hold” rating and set a $70.00 price objective on shares of Paychex in a research report on Wednesday, January 24th. Finally, Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price objective for the company in a research report on Monday, December 4th. Two research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Paychex currently has an average rating of “Hold” and an average target price of $62.77.

In related news, VP Jennifer R. Vossler sold 10,000 shares of Paychex stock in a transaction dated Tuesday, January 16th. The stock was 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 $2,156,461.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 63,374 shares of the company’s stock, valued at approximately $4,367,102.34. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.

Paychex, Inc. (NASDAQ PAYX) opened at $66.81 on Tuesday. The firm has a market capitalization of $23,997.18, a PE ratio of 29.05, a PEG ratio of 3.59 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 issued its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.59. The firm had revenue of $826.50 million during the quarter, compared to analyst estimates of $823.48 million. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. analysts forecast that Paychex, Inc. will post 2.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were given a $0.50 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.00 annualized dividend and a yield of 2.99%. Paychex’s dividend 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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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