Parametrica Management Ltd bought a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 4,000 shares of the business services provider’s stock, valued at approximately $240,000.

Several other institutional investors have also modified their holdings of PAYX. OppenheimerFunds Inc. boosted its position in shares of Paychex by 7.0% during the 1st quarter. OppenheimerFunds Inc. now owns 5,977 shares of the business services provider’s stock valued at $352,000 after acquiring an additional 390 shares in the last quarter. American Money Management LLC boosted its position in shares of Paychex by 4.3% during the 1st quarter. American Money Management LLC now owns 46,145 shares of the business services provider’s stock valued at $2,718,000 after acquiring an additional 1,882 shares in the last quarter. King Wealth Management Group LLC boosted its position in shares of Paychex by 0.8% during the 1st quarter. King Wealth Management Group LLC now owns 3,793 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 30 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Paychex by 7.1% during the 1st quarter. Stephens Inc. AR now owns 40,281 shares of the business services provider’s stock valued at $2,373,000 after acquiring an additional 2,679 shares in the last quarter. Finally, FDO Partners LLC acquired a new stake in shares of Paychex during the 1st quarter valued at about $1,521,000. Institutional investors and hedge funds own 67.13% of the company’s stock.

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Paychex, Inc. (NASDAQ:PAYX) opened at $63.99 on Friday. The stock has a market capitalization of $23.19 billion, a PE ratio of 28.43, a P/E/G ratio of 3.50 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last issued its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The firm had revenue of $816.80 million during the quarter, compared to the consensus estimate of $816.34 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. analysts expect that Paychex, Inc. will post 2.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, October 31st. Paychex’s payout ratio is presently 87.34%.

Several analysts have recently weighed in on PAYX shares. Robert W. Baird reiterated a “hold” rating and set a $64.00 target price on shares of Paychex in a research report on Wednesday, October 4th. Morgan Stanley upgraded shares of Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 price target on the stock in a research report on Wednesday, August 16th. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and issued a $61.00 price target on shares of Paychex in a research report on Friday, August 18th. BMO Capital Markets restated a “market perform” rating and issued a $62.00 price target (up from $60.00) on shares of Paychex in a research report on Wednesday, October 4th. Finally, William Blair lowered shares of Paychex from an “outperform” rating to a “market perform” rating in a research report on Friday, July 21st. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Paychex currently has a consensus rating of “Hold” and a consensus target price of $60.07.

In related news, VP Jennifer R. Vossler sold 11,155 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $63.07, for a total transaction of $703,545.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John B. Gibson sold 6,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $63.70, for a total transaction of $382,200.00. Following the transaction, the vice president now owns 21,758 shares of the company’s stock, valued at approximately $1,385,984.60. The disclosure for this sale can be found here. Insiders have sold 94,395 shares of company stock valued at $5,914,383 in the last three months. 11.70% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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