Csenge Advisory Group Sells 304 Shares of Paychex, Inc. (NASDAQ:PAYX)


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Csenge Advisory Group reduced its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,819 shares of the business services provider’s stock after selling 304 shares during the quarter. Csenge Advisory Group’s holdings in Paychex were worth $753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC lifted its position in shares of Paychex by 0.8% in the 4th quarter. Hohimer Wealth Management LLC now owns 13,594 shares of the business services provider’s stock worth $1,267,000 after purchasing an additional 114 shares during the period. CVA Family Office LLC lifted its position in shares of Paychex by 19.3% in the 1st quarter. CVA Family Office LLC now owns 710 shares of the business services provider’s stock worth $70,000 after purchasing an additional 115 shares during the period. Mather Group LLC. lifted its position in shares of Paychex by 3.3% in the 4th quarter. Mather Group LLC. now owns 3,730 shares of the business services provider’s stock worth $348,000 after purchasing an additional 118 shares during the period. Segment Wealth Management LLC lifted its position in shares of Paychex by 2.9% in the 4th quarter. Segment Wealth Management LLC now owns 4,306 shares of the business services provider’s stock worth $401,000 after purchasing an additional 120 shares during the period. Finally, Sound View Wealth Advisors Group LLC lifted its position in shares of Paychex by 1.3% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 10,254 shares of the business services provider’s stock worth $955,000 after purchasing an additional 129 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Martin Mucci sold 50,000 shares of the stock in a transaction dated Friday, February 26th. The shares were sold at an average price of $91.09, for a total value of $4,554,500.00. Also, Director Joseph M. Velli sold 3,753 shares of the stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $96.93, for a total transaction of $363,778.29. Following the completion of the sale, the director now directly owns 52,619 shares in the company, valued at $5,100,359.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,047 shares of company stock valued at $8,289,914. Company insiders own 11.70% of the company’s stock.

A number of research analysts have recently issued reports on PAYX shares. Smith Barney Citigroup boosted their price target on shares of Paychex from $93.00 to $105.00 in a research report on Tuesday, January 5th. The Goldman Sachs Group boosted their price target on shares of Paychex from $85.00 to $89.00 and gave the stock a “sell” rating in a research report on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Paychex from $81.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, January 4th. BMO Capital Markets boosted their target price on shares of Paychex from $93.00 to $96.00 and gave the company a “market perform” rating in a research report on Tuesday, April 13th. Finally, Argus boosted their target price on shares of Paychex from $103.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, April 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $93.00.

PAYX opened at $99.06 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The company’s fifty day moving average price is $97.72 and its two-hundred day moving average price is $92.25. Paychex, Inc. has a 1-year low of $60.00 and a 1-year high of $101.15. The company has a market cap of $35.70 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 3.81 and a beta of 0.90.

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, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.04. Paychex had a net margin of 26.66% and a return on equity of 37.99%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that Paychex, Inc. will post 2.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 27th. Stockholders of record on Wednesday, May 12th will be paid a $0.66 dividend. This is a positive change from Paychex’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, May 11th. This represents a $2.64 annualized dividend and a dividend yield of 2.67%. Paychex’s dividend payout ratio is presently 82.67%.

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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