Sciencast Management LP purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,215 shares of the business services provider’s stock, valued at approximately $432,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. American International Group Inc. lifted its holdings in Paychex by 1,975.5% during the 4th quarter. American International Group Inc. now owns 7,203,048 shares of the business services provider’s stock worth $490,384,000 after purchasing an additional 6,856,001 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Paychex by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,134,880 shares of the business services provider’s stock worth $281,020,000 after purchasing an additional 129,431 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Paychex by 0.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,147,293 shares of the business services provider’s stock worth $146,188,000 after purchasing an additional 16,395 shares during the last quarter. Legal & General Group Plc lifted its holdings in Paychex by 4.0% during the 3rd quarter. Legal & General Group Plc now owns 2,029,653 shares of the business services provider’s stock worth $121,718,000 after purchasing an additional 78,937 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Paychex by 1.6% during the 4th quarter. Swiss National Bank now owns 1,882,803 shares of the business services provider’s stock worth $128,181,000 after purchasing an additional 29,500 shares during the last quarter. 68.74% of the stock is owned by institutional investors and hedge funds.
In other news, VP Jennifer R. Vossler sold 10,000 shares of Paychex stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $68.29, for a total value of $682,900.00. Following the transaction, the vice president now owns 31,578 shares in the company, valued at approximately $2,156,461.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael E. Gioja sold 34,311 shares of Paychex stock in a transaction 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 completion of the transaction, the insider now owns 63,374 shares in the company, 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. (PAYX) opened at $66.40 on Friday. The firm has a market capitalization of $23,666.73, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 3.52 and a beta of 0.96. Paychex, Inc. has a fifty-two week low of $54.20 and a fifty-two week high of $73.10.
Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. The firm had revenue of $826.50 million during the quarter, compared to analysts’ expectations of $823.48 million. Paychex had a return on equity of 42.80% and a net margin of 26.02%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS. equities research analysts predict that Paychex, Inc. will post 2.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.01%. Paychex’s payout ratio is 85.84%.
Several analysts recently weighed in on PAYX shares. Stifel Nicolaus reissued a “hold” rating and set a $68.00 price target on shares of Paychex in a report on Friday, December 22nd. BMO Capital Markets reissued a “hold” rating and set a $70.00 price target on shares of Paychex in a report on Wednesday, January 24th. BidaskClub raised Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Bank of America lifted their price objective on Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. Finally, Citigroup raised Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price objective for the company in a report on Monday, December 4th. Two analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.77.
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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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