2 weeks Ago By ABMN Staff
Susquehanna Portfolio Strategies LLC reduced its position in shares of Paychex, Inc. ( NASDAQ:PAYX – Free Report ) by 91.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.
The firm owned 20,618 shares of the business services provider’s stock after selling 233,125 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Paychex were worth $2,444,000 as of its most recent SEC filing. Several other large investors also recently modified their holdings of the business.
Meeder Asset Management Inc. raised its holdings in shares of Paychex by 286.0% during the second quarter.
Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 163 shares in the last quarter. ORG Partners LLC raised its stake in Paychex by 227.
6% in the second quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after buying an additional 173 shares in the last quarter. ESL Trust Services LLC bought a new stake in Paychex during the 1st quarter valued at approximately $31,000.
Chilton Capital Management LLC bought a new position in shares of Paychex in the 1st quarter worth approximately $31,000. Finally, American National Bank lifted its stake in shares of Paychex by 166.7% in the 2nd quarter.
American National Bank now owns 288 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 180 shares during the period. 83.47% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In A number of research firms have recently weighed in on PAYX. Robert W. Baird reduced their target price on shares of Paychex from $126.
00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Barclays raised their price objective on Paychex from $118.
00 to $132.00 and gave the company an “equal weight” rating in a research report on Monday, September 23rd. Citigroup increased their target price on Paychex from $125.
00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co.
lifted their target price on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th.
Finally, Morgan Stanley cut their price target on shares of Paychex from $125.00 to $122.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th.
Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $125.62.
Insider Buying and Selling at Paychex In other news, Chairman Martin Mucci sold 101,490 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $117.27, for a total value of $11,901,732.
30. Following the transaction, the chairman now owns 437,345 shares of the company’s stock, valued at $51,287,448.15.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . In other news, Chairman Martin Mucci sold 101,490 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $117.
27, for a total transaction of $11,901,732.30. Following the sale, the chairman now directly owns 437,345 shares in the company, valued at approximately $51,287,448.
15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, CEO John B.
Gibson sold 12,670 shares of Paychex stock in a transaction on Monday, July 15th. The shares were sold at an average price of $119.53, for a total transaction of $1,514,445.
10. Following the transaction, the chief executive officer now owns 55,745 shares in the company, valued at approximately $6,663,199.85.
The disclosure for this sale can be found here . Over the last quarter, insiders sold 147,163 shares of company stock valued at $17,537,817. Company insiders own 11.
50% of the company’s stock. Paychex Stock Performance Shares of PAYX opened at $132.99 on Friday.
Paychex, Inc. has a one year low of $106.27 and a one year high of $137.
40. The business has a fifty day moving average of $128.76 and a 200 day moving average of $124.
15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.
37 and a quick ratio of 1.37. The firm has a market capitalization of $47.
87 billion, a P/E ratio of 28.48, a PEG ratio of 3.55 and a beta of 1.
00. Paychex ( NASDAQ:PAYX – Get Free Report ) last released its quarterly earnings results on Wednesday, June 26th. The business services provider reported $1.
12 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.02.
Paychex had a net margin of 32.03% and a return on equity of 46.63%.
The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion.
During the same period last year, the firm earned $0.97 earnings per share. The company’s quarterly revenue was up 5.
3% on a year-over-year basis. As a group, sell-side analysts anticipate that Paychex, Inc. will post 4.
99 EPS for the current year. Paychex Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 8th were given a dividend of $0.
98 per share. The ex-dividend date was Thursday, August 8th. This represents a $3.
92 annualized dividend and a yield of 2.95%. Paychex’s dividend payout ratio (DPR) is presently 83.
94%. About Paychex ( Free Report ) Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India. It 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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