Vigilant Capital Management LLC Acquires Shares of 321 Paychex, Inc. (NASDAQ:PAYX)

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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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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