Benjamin F. Edwards & Company Inc. lessened its holdings in Paychex, Inc. (NASDAQ:PAYX) by 39.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,490 shares of the business services provider’s stock after selling 8,012 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Paychex were worth $850,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of PAYX. Salem Investment Counselors Inc. boosted its position in Paychex by 0.6% during the second quarter. Salem Investment Counselors Inc. now owns 1,796 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 11 shares during the last quarter. Sun Life Financial INC boosted its position in Paychex by 23,260.0% during the second quarter. Sun Life Financial INC now owns 2,336 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 2,326 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in Paychex during the second quarter valued at $145,000. Bank of Nova Scotia Trust Co. acquired a new stake in Paychex during the third quarter valued at $188,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in Paychex during the third quarter valued at $210,000. 67.98% 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 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 transaction, the vice president now directly owns 31,578 shares in the company, valued at $2,156,461.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael E. Gioja sold 34,311 shares of the business’s stock in a transaction dated 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 owns 63,374 shares in the company, valued at $4,367,102.34. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.
Paychex, Inc. (NASDAQ:PAYX) traded up $2.30 during midday trading on Friday, reaching $64.16. The company’s stock had a trading volume of 2,840,112 shares, compared to its average volume of 2,572,120. Paychex, Inc. has a one year low of $54.20 and a one year high of $73.10. The company has a market capitalization of $23,045.38, a price-to-earnings ratio of 27.90, a P/E/G ratio of 3.45 and a beta of 0.94.
Paychex (NASDAQ:PAYX) last posted its earnings results 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 company had revenue of $826.50 million for 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 revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. equities analysts anticipate that Paychex, Inc. will post 2.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.12%. Paychex’s payout ratio is presently 85.84%.
A number of research firms recently issued reports on PAYX. BMO Capital Markets reissued a “hold” rating and set a $70.00 price objective on shares of Paychex in a research report on Wednesday, January 24th. BidaskClub cut Paychex from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 22nd. Bank of America cut Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research report on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and set a $68.00 price objective on shares of Paychex in a research report on Friday, December 22nd. Finally, Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 target price on the stock in a report 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 stock currently has an average rating of “Hold” and an average 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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