Carnick & Kubik Group LLC Raises Stake in Paychex, Inc. (PAYX)
Carnick & Kubik Group LLC grew its position in Paychex, Inc. (NASDAQ:PAYX) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 23,090 shares of the business services provider’s stock after buying an additional 873 shares during the quarter. Carnick & Kubik Group LLC’s holdings in Paychex were worth $1,572,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of PAYX. Field & Main Bank bought a new stake in shares of Paychex in the fourth quarter valued at about $101,000. Acadian Asset Management LLC bought a new stake in shares of Paychex in the fourth quarter valued at about $109,000. Calton & Associates Inc. bought a new stake in shares of Paychex in the fourth quarter valued at about $151,000. Bank of Nova Scotia Trust Co. bought a new stake in shares of Paychex in the third quarter valued at about $188,000. Finally, Nwam LLC bought a new stake in shares of Paychex in the fourth quarter valued at about $201,000. Institutional investors own 67.98% of the company’s stock.
Shares of Paychex, Inc. (NASDAQ PAYX) opened at $64.63 on Wednesday. Paychex, Inc. has a twelve month low of $54.20 and a twelve month high of $73.10. The stock has a market capitalization of $23,210.00, a PE ratio of 27.74, a P/E/G ratio of 3.45 and a beta of 0.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a $0.50 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $2.00 annualized dividend and a yield of 3.09%. Paychex’s dividend payout ratio is 85.84%.
A number of analysts have recently commented on PAYX shares. Royal Bank of Canada restated a “sell” rating and issued a $57.00 price target on shares of Paychex in a report on Wednesday, November 15th. BidaskClub upgraded Paychex from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Bank of America upped their target price on Paychex from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, December 5th. Citigroup upgraded Paychex from a “sell” rating to a “neutral” rating and set a $67.00 target price on the stock in a report on Monday, December 4th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $68.00 target price on shares of Paychex in a report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $62.77.
In other Paychex news, insider Michael E. Gioja sold 34,311 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $68.91, for a total value of $2,364,371.01. Following the sale, the insider now owns 63,374 shares in the company, valued at $4,367,102.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer R. Vossler sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $68.29, for a total value of $682,900.00. Following the completion of the sale, the vice president now owns 31,578 shares in the company, valued at approximately $2,156,461.62. The disclosure for this sale can be found here. 11.70% of the stock is owned by corporate insiders.
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Paychex Company 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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