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.
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