Vigilant Capital Management LLC acquired a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the third quarter, Holdings Channel.com reports. The firm acquired 321 shares of the business services provider’s stock, valued at approximately $27,000.
Other hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in shares of Paychex by 2.5% in the first quarter. First Trust Advisors LP now owns 733,577 shares of the business services provider’s stock worth $58,833,000 after purchasing an additional 18,038 shares during the last quarter. GYL Financial Synergies LLC bought a new position in shares of Paychex in the first quarter worth about $264,000. M Holdings Securities Inc. bought a new position in shares of Paychex in the first quarter worth about $214,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Paychex by 7.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 503,544 shares of the business services provider’s stock worth $40,384,000 after purchasing an additional 36,460 shares during the last quarter. Finally, Cox Capital Mgt LLC grew its holdings in shares of Paychex by 1.3% in the second quarter. Cox Capital Mgt LLC now owns 16,083 shares of the business services provider’s stock worth $1,323,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 69.87% of the company’s stock.
PAYX has been the topic of a number of research analyst reports. Bank of America cut shares of Paychex from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th. They noted that the move was a valuation call. Argus restated a “buy” rating and issued a $92.00 price target on shares of Paychex in a report on Thursday, October 3rd. William Blair restated a “market perform” rating on shares of Paychex in a report on Thursday, June 27th. BidaskClub cut shares of Paychex from a “buy” rating to a “hold” rating in a report on Saturday, August 24th. Finally, Barclays upped their price objective on shares of Paychex from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $79.33.
In related news, VP Robert L. Schrader sold 609 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $83.88, for a total value of $51,082.92. Following the completion of the sale, the vice president now directly owns 9,166 shares of the company’s stock, valued at $768,844.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela A. Joseph sold 22,339 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $85.06, for a total transaction of $1,900,155.34. Following the sale, the director now directly owns 17,587 shares of the company’s stock, valued at $1,495,950.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,699 shares of company stock valued at $2,014,240. 11.70% of the stock is owned by insiders.
NASDAQ:PAYX traded down $0.31 during mid-day trading on Friday, reaching $84.44. The company’s stock had a trading volume of 733,422 shares, compared to its average volume of 1,599,444. Paychex, Inc. has a 1 year low of $61.32 and a 1 year high of $88.43. The stock has a fifty day moving average of $82.69 and a 200-day moving average of $83.75. The firm has a market capitalization of $30.38 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 3.03 and a beta of 0.90. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.35.
Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, October 2nd. The business services provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. Paychex had a net margin of 27.04% and a return on equity of 41.07%. The company had revenue of $992.00 million during the quarter, compared to analyst estimates of $991.70 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts expect that Paychex, Inc. will post 3.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Friday, November 1st will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Thursday, October 31st. Paychex’s dividend payout ratio (DPR) is presently 87.32%.
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.
Featured Article: What are the Different Types of Leveraged Buyouts?
Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX).
Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.