Lincoln National Corp Has $1.15 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Lincoln National Corp lowered its position in Paychex, Inc. (NASDAQ:PAYXGet Rating) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,224 shares of the business services provider’s stock after selling 91 shares during the quarter. Lincoln National Corp’s holdings in Paychex were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PAYX. Karp Capital Management Corp bought a new position in shares of Paychex during the 3rd quarter worth approximately $25,000. Heritage Financial Services LLC purchased a new stake in Paychex in the 2nd quarter valued at $26,000. SRS Capital Advisors Inc. raised its position in Paychex by 52.1% in the 2nd quarter. SRS Capital Advisors Inc. now owns 292 shares of the business services provider’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Paychex in the 2nd quarter valued at $34,000. Finally, Total Clarity Wealth Management Inc. purchased a new stake in Paychex in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 71.14% of the company’s stock.

Paychex Stock Performance

NASDAQ:PAYX opened at $118.62 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.30 and a quick ratio of 1.30. The business has a 50 day moving average of $119.02 and a 200 day moving average of $120.32. The company has a market capitalization of $42.76 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 3.76 and a beta of 0.98. Paychex, Inc. has a 1-year low of $105.66 and a 1-year high of $141.92.

Paychex (NASDAQ:PAYXGet Rating) last announced its quarterly earnings results on Thursday, December 22nd. The business services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Paychex had a return on equity of 45.50% and a net margin of 30.45%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, sell-side analysts predict that Paychex, Inc. will post 4.25 earnings per share for the current fiscal year.

Paychex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 23rd. Stockholders of record on Thursday, February 9th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, February 8th. This represents a $3.16 annualized dividend and a dividend yield of 2.66%. Paychex’s dividend payout ratio (DPR) is presently 78.02%.

Insider Activity

In related news, VP Michael E. Gioja sold 13,744 shares of Paychex stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $115.30, for a total transaction of $1,584,683.20. Following the sale, the vice president now directly owns 33,268 shares in the company, valued at $3,835,800.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley lowered their price target on Paychex from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, December 23rd. StockNews.com began coverage on Paychex in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup decreased their price objective on Paychex from $131.00 to $119.00 in a report on Friday, December 23rd. JPMorgan Chase & Co. decreased their price objective on Paychex from $121.00 to $119.00 and set an “underweight” rating for the company in a report on Friday, December 23rd. Finally, Cowen raised their target price on Paychex from $125.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, September 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $124.08.

Paychex Company Profile

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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, 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.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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