5,112 Shares in Paychex, Inc. (PAYX) Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,112 shares of the business services provider’s stock, valued at approximately $376,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYX. BlackRock Inc. boosted its position in shares of Paychex by 1.4% in the second quarter. BlackRock Inc. now owns 24,771,984 shares of the business services provider’s stock worth $1,693,166,000 after buying an additional 351,899 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Paychex by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 7,812,772 shares of the business services provider’s stock worth $534,003,000 after buying an additional 173,029 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Paychex by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,997,181 shares of the business services provider’s stock worth $136,508,000 after buying an additional 61,326 shares during the period. Swiss National Bank boosted its position in shares of Paychex by 2.1% in the second quarter. Swiss National Bank now owns 1,858,403 shares of the business services provider’s stock worth $127,022,000 after buying an additional 37,600 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of Paychex by 4.0% in the second quarter. Schroder Investment Management Group now owns 1,726,058 shares of the business services provider’s stock worth $117,303,000 after buying an additional 67,063 shares during the period. 67.14% of the stock is owned by institutional investors and hedge funds.

In other Paychex news, VP Jennifer R. Vossler sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $70.51, for a total transaction of $282,040.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Doody bought 1,000 shares of the business’s stock in a transaction on Tuesday, October 23rd. The shares were bought at an average price of $66.50 per share, for a total transaction of $66,500.00. Following the completion of the acquisition, the director now owns 16,639 shares of the company’s stock, valued at $1,106,493.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 81,250 shares of company stock valued at $5,885,815. 11.80% of the stock is owned by corporate insiders.

Shares of NASDAQ:PAYX opened at $65.49 on Monday. Paychex, Inc. has a 1 year low of $59.36 and a 1 year high of $76.02. The firm has a market cap of $23.52 billion, a P/E ratio of 25.68, a PEG ratio of 2.71 and a beta of 1.02.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Tuesday, October 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Paychex had a return on equity of 42.87% and a net margin of 27.71%. The business had revenue of $862.80 million during the quarter, compared to analyst estimates of $850.39 million. During the same period last year, the company earned $0.62 earnings per share. Paychex’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts predict that Paychex, Inc. will post 2.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $2.24 annualized dividend and a dividend yield of 3.42%. Paychex’s dividend payout ratio is 87.84%.

Several analysts have recently commented on PAYX shares. Wolfe Research started coverage on Paychex in a research report on Tuesday, July 17th. They issued a “market perform” rating for the company. BidaskClub cut Paychex from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Credit Suisse Group started coverage on Paychex in a research report on Friday, August 10th. They issued a “neutral” rating and a $72.00 target price for the company. JPMorgan Chase & Co. cut Paychex from a “neutral” rating to an “underweight” rating and set a $65.00 target price for the company. in a research report on Tuesday, August 14th. Finally, Guggenheim assumed coverage on Paychex in a research report on Monday, August 20th. They issued a “neutral” rating and a $75.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $72.93.

Paychex Company Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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