Paychex, Inc. (NASDAQ:PAYX) Shares Acquired by Atticus Wealth Management LLC

Atticus Wealth Management LLC raised its stake in shares of Paychex, Inc. (NASDAQ:PAYXGet Rating) by 17.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,046 shares of the business services provider’s stock after buying an additional 300 shares during the period. Atticus Wealth Management LLC’s holdings in Paychex were worth $233,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PAYX. Level Four Advisory Services LLC acquired a new position in Paychex during the 4th quarter valued at about $307,000. Invesco Ltd. boosted its position in shares of Paychex by 0.7% during the 4th quarter. Invesco Ltd. now owns 2,684,389 shares of the business services provider’s stock valued at $366,420,000 after purchasing an additional 17,795 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Paychex by 9.4% during the 4th quarter. Schroder Investment Management Group now owns 440,531 shares of the business services provider’s stock valued at $60,133,000 after purchasing an additional 37,775 shares in the last quarter. Clark Capital Management Group Inc. boosted its position in shares of Paychex by 63.1% during the 4th quarter. Clark Capital Management Group Inc. now owns 3,061 shares of the business services provider’s stock valued at $418,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Trail Ridge Investment Advisors LLC bought a new position in shares of Paychex during the 4th quarter valued at about $344,000. Institutional investors and hedge funds own 71.80% of the company’s stock.

Insider Transactions at Paychex

In other news, VP Robert L. Schrader sold 783 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $115.00, for a total value of $90,045.00. Following the sale, the vice president now owns 8,199 shares in the company, valued at $942,885. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Paychex news, CFO Efrain Rivera sold 3,875 shares of Paychex stock in a transaction on Friday, July 8th. The shares were sold at an average price of $116.80, for a total transaction of $452,600.00. Following the sale, the chief financial officer now owns 85,743 shares in the company, valued at $10,014,782.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert L. Schrader sold 783 shares of Paychex stock in a transaction on Friday, July 15th. The stock was sold at an average price of $115.00, for a total transaction of $90,045.00. Following the sale, the vice president now owns 8,199 shares in the company, valued at approximately $942,885. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,837 shares of company stock worth $10,539,336. Insiders own 11.50% of the company’s stock.

Paychex Trading Down 1.8 %

NASDAQ:PAYX opened at $117.91 on Thursday. Paychex, Inc. has a 12 month low of $106.55 and a 12 month high of $141.92. The firm has a market cap of $42.48 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 3.86 and a beta of 1.00. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $126.46 and its 200-day moving average is $125.36.

Paychex (NASDAQ:PAYXGet Rating) last released its quarterly earnings results on Wednesday, June 29th. The business services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. Paychex had a net margin of 30.20% and a return on equity of 43.65%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate that Paychex, Inc. will post 4.14 EPS for the current year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were paid a $0.79 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $3.16 annualized dividend and a dividend yield of 2.68%. Paychex’s payout ratio is 82.29%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PAYX shares. Citigroup decreased their target price on shares of Paychex from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. Credit Suisse Group decreased their target price on shares of Paychex from $165.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, June 30th. Barclays decreased their target price on shares of Paychex from $140.00 to $127.00 and set an “equal weight” rating for the company in a report on Thursday, June 30th. William Blair reiterated a “market perform” rating on shares of Paychex in a report on Wednesday, June 29th. Finally, Morgan Stanley decreased their target price on shares of Paychex from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday, June 30th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Paychex has a consensus rating of “Hold” and an average target price of $130.75.

Paychex Profile

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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, 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.

See Also

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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