Banco de Sabadell S.A purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX) during the 4th quarter, Holdings Channel reports. The fund purchased 28,106 shares of the business services provider’s stock, valued at approximately $1,913,000.

A number of other large investors have also modified their holdings of PAYX. Archford Capital Strategies LLC acquired a new position in shares of Paychex during the 4th quarter worth about $449,000. Halsey Associates Inc. CT acquired a new position in shares of Paychex during the 4th quarter worth about $215,000. SWS Partners acquired a new position in shares of Paychex during the 4th quarter worth about $1,631,000. MetLife Investment Advisors LLC acquired a new position in shares of Paychex during the 4th quarter worth about $6,736,000. Finally, Jump Trading LLC acquired a new position in shares of Paychex during the 4th quarter worth about $498,000. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

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Paychex stock opened at $65.55 on Thursday. Paychex, Inc. has a 52 week low of $54.20 and a 52 week high of $73.10. The company has a market cap of $23,465.59, a PE ratio of 28.13, a P/E/G ratio of 3.44 and a beta of 0.96.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Thursday, December 21st. The business services provider reported $0.59 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.59. The firm had revenue of $826.50 million during the quarter, compared to the consensus estimate of $823.48 million. Paychex had a net margin of 26.02% and a return on equity of 42.80%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS. equities research analysts expect that Paychex, Inc. will post 2.44 earnings per share for the current year.

Several research analysts have recently weighed in on PAYX shares. Citigroup upgraded shares of Paychex from a “sell” rating to a “neutral” rating and set a $67.00 price objective on the stock in a research note on Monday, December 4th. Bank of America upped their price target on shares of Paychex from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, December 5th. BidaskClub upgraded shares of Paychex from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $68.00 price target on shares of Paychex in a research note on Friday, December 22nd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $70.00 price target on shares of Paychex in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $63.93.

In other Paychex news, insider Michael E. Gioja sold 34,311 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $68.91, for a total value of $2,364,371.01. Following the completion of the sale, the insider now owns 63,374 shares of the company’s stock, valued at approximately $4,367,102.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jennifer R. Vossler sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total transaction of $682,900.00. Following the completion of the sale, the vice president now directly owns 31,578 shares of the company’s stock, valued at approximately $2,156,461.62. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.

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Paychex Profile

Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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