Paychex, Inc. (PAYX) Shares Bought by Sun Life Financial INC
Sun Life Financial INC grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 23,260.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,336 shares of the business services provider’s stock after purchasing an additional 2,326 shares during the period. Sun Life Financial INC’s holdings in Paychex were worth $133,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Bruderman Asset Management LLC lifted its position in shares of Paychex by 0.3% during the 1st quarter. Bruderman Asset Management LLC now owns 6,794 shares of the business services provider’s stock worth $400,000 after buying an additional 20 shares during the last quarter. Alps Advisors Inc. boosted its stake in Paychex by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,685 shares of the business services provider’s stock valued at $438,000 after buying an additional 20 shares in the last quarter. Northwest Quadrant Wealth Management LLC boosted its stake in Paychex by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 3,923 shares of the business services provider’s stock valued at $228,000 after buying an additional 24 shares in the last quarter. King Wealth Management Group LLC boosted its stake in Paychex by 0.8% in the first quarter. King Wealth Management Group LLC now owns 3,793 shares of the business services provider’s stock valued at $223,000 after buying an additional 30 shares in the last quarter. Finally, Washington Trust Bank boosted its stake in Paychex by 0.4% in the second quarter. Washington Trust Bank now owns 7,344 shares of the business services provider’s stock valued at $418,000 after buying an additional 31 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.
Paychex, Inc. (PAYX) traded up 0.76% during trading on Wednesday, hitting $62.46. 301,654 shares of the stock traded hands. Paychex, Inc. has a 12 month low of $52.78 and a 12 month high of $63.03. The stock has a market cap of $22.45 billion, a PE ratio of 27.76 and a beta of 0.98. The company has a 50-day moving average price of $57.62 and a 200-day moving average price of $58.16.
Paychex (NASDAQ:PAYX) last posted 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. The company had revenue of $816.80 million during the quarter, compared to analyst estimates of $816.34 million. Paychex had a return on equity of 42.48% and a net margin of 25.93%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. Equities research analysts expect that Paychex, Inc. will post $2.37 EPS for the current year.
In other Paychex news, insider Efrain Rivera sold 5,837 shares of the stock in a transaction on Sunday, July 9th. The stock was sold at an average price of $57.39, for a total value of $334,985.43. Following the sale, the insider now directly owns 53,395 shares of the company’s stock, valued at $3,064,339.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph M. Tucci sold 6,000 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $57.82, for a total value of $346,920.00. Following the completion of the sale, the director now directly owns 53,621 shares in the company, valued at $3,100,366.22. The disclosure for this sale can be found here. In the last three months, insiders sold 107,497 shares of company stock worth $6,200,889. Company insiders own 11.70% of the company’s stock.
A number of research analysts have issued reports on PAYX shares. Royal Bank Of Canada lifted their target price on Paychex from $54.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday. BMO Capital Markets boosted their target price on Paychex from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday. Robert W. Baird reissued a “hold” rating and issued a $64.00 target price on shares of Paychex in a report on Wednesday. Citigroup Inc. reissued a “sell” rating and issued a $53.00 target price on shares of Paychex in a report on Monday. Finally, Stifel Nicolaus restated a “hold” rating and issued a $61.00 price target on shares of Paychex in a research note on Friday, August 18th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $59.39.
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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