28,106 Shares in Paychex, Inc. (PAYX) Acquired by Banco de Sabadell S.A
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.
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.
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, 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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