Paychex, Inc. (PAYX) Position Boosted by GWM Advisors LLC

GWM Advisors LLC lifted its stake in Paychex, Inc. (NASDAQ:PAYX) by 12.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,038 shares of the business services provider’s stock after purchasing an additional 1,743 shares during the quarter. GWM Advisors LLC’s holdings in Paychex were worth $1,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. MUFG Americas Holdings Corp boosted its position in shares of Paychex by 15.4% in the 4th quarter. MUFG Americas Holdings Corp now owns 123,037 shares of the business services provider’s stock valued at $8,376,000 after purchasing an additional 16,376 shares during the period. D.A. Davidson & CO. boosted its position in shares of Paychex by 49.2% in the 4th quarter. D.A. Davidson & CO. now owns 27,091 shares of the business services provider’s stock valued at $1,844,000 after purchasing an additional 8,932 shares during the period. Independence Bank of Kentucky acquired a new position in shares of Paychex in the 4th quarter valued at $405,000. Advisory Services Network LLC lifted its stake in Paychex by 248.8% in the 4th quarter. Advisory Services Network LLC now owns 25,204 shares of the business services provider’s stock worth $1,716,000 after acquiring an additional 17,979 shares in the last quarter. Finally, Signition LP purchased a new stake in Paychex in the 4th quarter worth about $720,000. Institutional investors and hedge funds own 67.98% of the company’s stock.

In other news, VP Jennifer R. Vossler sold 10,000 shares of Paychex 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 sale, the vice president now owns 31,578 shares of the company’s stock, valued at approximately $2,156,461.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael E. Gioja sold 34,311 shares of Paychex stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $68.91, for a total value of $2,364,371.01. Following the sale, the insider now directly 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.

Several equities research analysts recently issued reports on the company. BMO Capital Markets reissued a “hold” rating and issued a $70.00 price objective on shares of Paychex in a research note on Wednesday, January 24th. BidaskClub downgraded Paychex from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Bank of America downgraded Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research note on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and issued a $68.00 price objective on shares of Paychex in a research note on Friday, December 22nd. Finally, Citigroup raised 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 assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $62.77.

Shares of Paychex, Inc. (PAYX) opened at $66.47 on Friday. The stock has a market capitalization of $23,479.96, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 3.51 and a beta of 0.94. Paychex, Inc. has a fifty-two week low of $54.20 and a fifty-two week high of $73.10.

Paychex (NASDAQ:PAYX) last released its earnings results on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.59. The firm 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 company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. equities research analysts predict that Paychex, Inc. will post 2.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, January 31st. Paychex’s dividend payout ratio (DPR) is currently 85.84%.

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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.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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