Timber Hill LLC Acquires New Position in Paychex, Inc. (PAYX)

Timber Hill LLC acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 17,297 shares of the business services provider’s stock, valued at approximately $1,178,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAYX. Mutual of America Capital Management LLC grew its stake in Paychex by 4.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 40,613 shares of the business services provider’s stock valued at $2,435,000 after acquiring an additional 1,655 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in Paychex during the 3rd quarter valued at about $315,000. APG Asset Management N.V. grew its stake in Paychex by 15.7% during the 3rd quarter. APG Asset Management N.V. now owns 214,891 shares of the business services provider’s stock valued at $12,885,000 after acquiring an additional 29,200 shares in the last quarter. Whittier Trust Co. grew its stake in Paychex by 1.7% during the 3rd quarter. Whittier Trust Co. now owns 97,128 shares of the business services provider’s stock valued at $5,823,000 after acquiring an additional 1,632 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Paychex by 3.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 30,761 shares of the business services provider’s stock valued at $1,845,000 after acquiring an additional 1,138 shares in the last quarter. 67.98% of the stock is owned by institutional investors.

Shares of Paychex, Inc. (NASDAQ PAYX) opened at $65.08 on Thursday. Paychex, Inc. has a one year low of $54.20 and a one year high of $73.10. The firm has a market cap of $23,494.33, a P/E ratio of 27.93, a PEG ratio of 3.51 and a beta of 0.94.

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

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a $0.50 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.07%. Paychex’s dividend payout ratio is currently 85.84%.

In other news, insider Michael E. Gioja sold 34,311 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $68.91, for a total value of $2,364,371.01. Following the transaction, the insider now directly owns 63,374 shares in the company, valued at approximately $4,367,102.34. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jennifer R. Vossler sold 10,000 shares of the company’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 transaction, the vice president now owns 31,578 shares in the company, valued at $2,156,461.62. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.

PAYX has been the subject of several research reports. BidaskClub cut shares of Paychex from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 22nd. Bank of America increased their price target on shares of Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, December 5th. Stifel Nicolaus reissued a “hold” rating and issued a $68.00 price target on shares of Paychex in a research note on Friday, December 22nd. BMO Capital Markets reissued a “hold” rating and issued a $70.00 price target on shares of Paychex in a research note on Wednesday, January 24th. Finally, Citigroup raised shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price target for the company in a research note on Monday, December 4th. Two analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $62.77.

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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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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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