Keystone Financial Planning Inc. lifted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,115 shares of the business services provider’s stock after acquiring an additional 410 shares during the quarter. Paychex accounts for about 3.6% of Keystone Financial Planning Inc.’s holdings, making the stock its 10th largest position. Keystone Financial Planning Inc.’s holdings in Paychex were worth $6,392,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PAYX. Parkside Financial Bank & Trust boosted its holdings in shares of Paychex by 12.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,376 shares of the business services provider’s stock worth $89,000 after acquiring an additional 154 shares during the period. CWM LLC boosted its holdings in shares of Paychex by 14.4% in the fourth quarter. CWM LLC now owns 1,376 shares of the business services provider’s stock worth $90,000 after acquiring an additional 173 shares during the period. Buckingham Capital Management Inc. boosted its holdings in shares of Paychex by 1.0% in the third quarter. Buckingham Capital Management Inc. now owns 18,175 shares of the business services provider’s stock worth $1,339,000 after acquiring an additional 183 shares during the period. Saratoga Research & Investment Management boosted its holdings in shares of Paychex by 2.5% in the fourth quarter. Saratoga Research & Investment Management now owns 7,630 shares of the business services provider’s stock worth $497,000 after acquiring an additional 185 shares during the period. Finally, Physicians Financial Services Inc. boosted its holdings in shares of Paychex by 4.9% in the fourth quarter. Physicians Financial Services Inc. now owns 4,252 shares of the business services provider’s stock worth $277,000 after acquiring an additional 200 shares during the period. 71.23% of the stock is owned by institutional investors and hedge funds.
NASDAQ:PAYX opened at $74.24 on Monday. The firm has a market cap of $26.68 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 2.97 and a beta of 0.99. Paychex, Inc. has a 52-week low of $59.36 and a 52-week high of $76.02.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Wednesday, December 19th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $858.90 million during the quarter, compared to analyst estimates of $860.61 million. Paychex had a return on equity of 41.61% and a net margin of 27.99%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. On average, equities analysts expect that Paychex, Inc. will post 2.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.02%. The ex-dividend date is Thursday, January 31st. Paychex’s dividend payout ratio is 87.84%.
In related news, CEO Martin Mucci sold 50,000 shares of Paychex stock in a transaction on Monday, February 4th. The stock was sold at an average price of $72.32, for a total transaction of $3,616,000.00. Following the completion of the sale, the chief executive officer now owns 349,929 shares of the company’s stock, valued at $25,306,865.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer R. Vossler sold 6,000 shares of Paychex stock in a transaction on Friday, January 18th. The shares were sold at an average price of $69.37, for a total value of $416,220.00. Following the sale, the vice president now directly owns 27,701 shares of the company’s stock, valued at approximately $1,921,618.37. The disclosure for this sale can be found here. Insiders have sold 66,755 shares of company stock valued at $4,816,797 in the last three months. 11.80% of the stock is owned by corporate insiders.
A number of equities analysts have recently commented on PAYX shares. Barclays started coverage on Paychex in a report on Wednesday, November 14th. They issued an “equal weight” rating and a $70.00 price target for the company. BidaskClub raised Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 22nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Paychex in a report on Thursday, December 20th. Finally, Bank of America raised Paychex from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $64.00 to $68.00 in a report on Tuesday, January 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Paychex has a consensus rating of “Hold” and an average target price of $72.60.
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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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