Cwm LLC raised its holdings in shares of Paychex, Inc. (NASDAQ:PAYX – Get Rating) by 8.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,469 shares of the business services provider shares’s stock after acquiring an additional 903 during the period. Cwm LLC’s holdings in Paychex were worth $1,565,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Rather & Kittrell Inc. bought a new stake in shares of Paychex in the 4th quarter worth $25,000. Enterprise Trust & Investment Co bought a new stake in shares of Paychex in the 4th quarter worth $27,000. DeDora Capital Inc. bought a new stake in shares of Paychex in the 1st quarter worth $28,000. Allegheny Financial Group LTD bought a new stake in shares of Paychex in the 4th quarter worth $28,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of Paychex in the 4th quarter worth $29,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.
In other Paychex news, VP Karen E. Saunders-Mcclendon sold 203 shares of the business’s stock in a transaction dated Friday, April 15th. The stock was sold at an average price of $136.69, for a total value of $27,748.07. Following the completion of the sale, the vice president now owns 2,994 shares of the company’s stock, valued at $409,249.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.50% of the stock is owned by insiders.
Shares of NASDAQ PAYX opened at $116.36 on Tuesday. The business’s 50-day moving average price is $121.12 and its two-hundred day moving average price is $124.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 1.27. Paychex, Inc. has a one year low of $106.55 and a one year high of $141.92. The company has a market capitalization of $42.01 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 3.74 and a beta of 0.98.
Paychex (NASDAQ:PAYX – Get Rating) last announced its quarterly earnings results on Wednesday, June 29th. The business services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. Paychex had a return on equity of 43.65% and a net margin of 30.20%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Paychex, Inc. will post 4.14 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th were given a $0.79 dividend. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Paychex’s previous quarterly dividend of $0.66. Paychex’s payout ratio is currently 82.29%.
A number of brokerages recently issued reports on PAYX. StockNews.com began coverage on Paychex in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup lifted their target price on Paychex from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, April 6th. William Blair restated a “market performer” rating on shares of Paychex in a report on Wednesday, June 29th. Cowen decreased their target price on Paychex from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, June 30th. Finally, Robert W. Baird lifted their target price on Paychex from $137.00 to $142.00 in a report on Thursday, March 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $130.77.
Paychex Company Profile (Get Rating)
Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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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