16,791 Shares in Paychex, Inc. (NASDAQ:PAYX) Bought by Radnor Capital Management LLC

Radnor Capital Management LLC purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 16,791 shares of the business services provider’s stock, valued at approximately $2,253,000.

A number of other large investors also recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its stake in Paychex by 286.0% in the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 163 shares during the last quarter. ORG Partners LLC raised its position in shares of Paychex by 227.6% in the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Paychex in the 2nd quarter valued at approximately $30,000. Chilton Capital Management LLC bought a new position in Paychex during the 1st quarter worth $31,000. Finally, ESL Trust Services LLC acquired a new position in Paychex during the 1st quarter worth $31,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PAYX shares. JPMorgan Chase & Co. upped their target price on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Barclays raised their target price on Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. Stifel Nicolaus boosted their price target on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Citigroup upped their price target on Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, TD Cowen increased their target price on Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Paychex has an average rating of “Hold” and an average price target of $130.77.

Paychex Stock Up 0.1 %

Shares of PAYX opened at $139.76 on Wednesday. The company has a market capitalization of $50.30 billion, a PE ratio of 29.80, a PEG ratio of 3.82 and a beta of 0.99. Paychex, Inc. has a 12 month low of $109.98 and a 12 month high of $144.17. The stock’s 50-day moving average price is $136.69 and its two-hundred day moving average price is $127.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. On average, analysts anticipate that Paychex, Inc. will post 4.98 EPS for the current year.

Paychex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s dividend payout ratio (DPR) is currently 83.58%.

Insider Buying and Selling

In related news, CFO Robert L. Schrader sold 13,015 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the transaction, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at approximately $2,471,480.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paychex news, VP Michael E. Gioja sold 26,428 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the completion of the sale, the vice president now directly owns 14,515 shares of the company’s stock, valued at approximately $2,018,020.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the sale, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at $2,471,480.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,174 shares of company stock valued at $7,577,231. 11.40% of the stock is owned by company insiders.

About Paychex

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.