Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC increased its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 23.8% in the fourth quarter, Holdings Channel reports. The firm owned 8,681 shares of the business services provider’s stock after acquiring an additional 1,667 shares during the period. Townsquare Capital LLC’s holdings in Paychex were worth $1,217,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PAYX. Monument Capital Management boosted its position in shares of Paychex by 4.4% in the fourth quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after buying an additional 72 shares during the period. Mutual Advisors LLC boosted its holdings in Paychex by 2.6% in the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after acquiring an additional 73 shares during the period. Emerald Advisors LLC grew its position in Paychex by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 74 shares in the last quarter. Weaver Capital Management LLC raised its stake in shares of Paychex by 3.7% during the fourth quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 75 shares during the period. Finally, Adero Partners LLC lifted its position in shares of Paychex by 3.2% during the fourth quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock worth $335,000 after purchasing an additional 75 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Paychex

In related news, Director Joseph M. Velli sold 3,650 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total value of $544,762.50. Following the sale, the director now owns 78,455 shares of the company’s stock, valued at approximately $11,709,408.75. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.40% of the stock is currently owned by insiders.

Paychex Stock Performance

Shares of PAYX opened at $144.90 on Friday. The stock has a market capitalization of $52.19 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. The business’s fifty day moving average price is $147.97 and its 200 day moving average price is $144.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. Paychex, Inc. has a 12-month low of $115.40 and a 12-month high of $158.37.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts forecast that Paychex, Inc. will post 4.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Paychex from $141.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, March 27th. Barclays lifted their target price on Paychex from $140.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, March 31st. Morgan Stanley raised their price objective on Paychex from $137.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Cfra Research upgraded Paychex to a “hold” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $148.00 target price on shares of Paychex in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $141.00.

Paychex Company Profile

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.