Parametrica Management Ltd Buys New Stake in Paychex, Inc. (PAYX)
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.
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.
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