1,400 Shares in Paychex, Inc. (NASDAQ:PAYX) Acquired by Focused Wealth Management Inc

Focused Wealth Management Inc acquired a new position in Paychex, Inc. (NASDAQ:PAYX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,400 shares of the business services provider’s stock, valued at approximately $137,000.

A number of other large investors have also recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in Paychex by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 9,806,799 shares of the business services provider’s stock valued at $913,796,000 after acquiring an additional 91,717 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Paychex by 19.8% during the 4th quarter. Bank of New York Mellon Corp now owns 7,418,658 shares of the business services provider’s stock valued at $691,270,000 after acquiring an additional 1,224,938 shares in the last quarter. Select Equity Group L.P. boosted its position in Paychex by 37.9% during the 4th quarter. Select Equity Group L.P. now owns 6,518,891 shares of the business services provider’s stock valued at $607,430,000 after acquiring an additional 1,792,651 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Paychex by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,554,302 shares of the business services provider’s stock valued at $424,370,000 after acquiring an additional 338,582 shares in the last quarter. Finally, Norges Bank bought a new stake in Paychex during the 4th quarter valued at $195,397,000. 70.00% of the stock is currently owned by institutional investors.

In other news, VP Michael E. Gioja sold 35,294 shares of the firm’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $95.53, for a total transaction of $3,371,635.82. Following the sale, the vice president now directly owns 79,015 shares in the company, valued at approximately $7,548,302.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John B. Gibson sold 113,318 shares of the firm’s stock in a transaction dated Tuesday, May 4th. The shares were sold at an average price of $99.29, for a total value of $11,251,344.22. Insiders have sold a total of 228,885 shares of company stock valued at $22,208,110 in the last quarter. Company insiders own 11.70% of the company’s stock.

NASDAQ PAYX opened at $97.71 on Wednesday. The stock has a 50-day simple moving average of $98.35 and a two-hundred day simple moving average of $92.94. The firm has a market capitalization of $35.21 billion, a P/E ratio of 33.80, a PEG ratio of 3.81 and a beta of 0.90. Paychex, Inc. has a fifty-two week low of $60.00 and a fifty-two week high of $102.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.28.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Monday, April 5th. The business services provider reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.04. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Paychex had a return on equity of 37.99% and a net margin of 26.66%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. As a group, analysts forecast that Paychex, Inc. will post 2.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 27th. Shareholders of record on Wednesday, May 12th will be paid a dividend of $0.66 per share. The ex-dividend date is Tuesday, May 11th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from Paychex’s previous quarterly dividend of $0.62. Paychex’s dividend payout ratio (DPR) is presently 82.67%.

Several brokerages have issued reports on PAYX. Morgan Stanley dropped their target price on Paychex from $91.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 13th. Argus increased their price objective on Paychex from $103.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, April 13th. BMO Capital Markets increased their price objective on Paychex from $93.00 to $96.00 and gave the company a “market perform” rating in a report on Tuesday, April 13th. Wolfe Research reiterated an “underperform” rating and set a $94.00 price objective on shares of Paychex in a report on Tuesday, April 13th. Finally, The Goldman Sachs Group increased their price objective on Paychex from $85.00 to $89.00 and gave the company a “sell” rating in a report on Tuesday, April 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Paychex presently has an average rating of “Hold” and a consensus price target of $93.00.

Paychex Profile

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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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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