PFG Advisors grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 11.0% in the 4th quarter, HoldingsChannel reports. The firm owned 20,694 shares of the business services provider’s stock after buying an additional 2,054 shares during the quarter. PFG Advisors’ holdings in Paychex were worth $1,762,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quantum Capital Management bought a new stake in shares of Paychex in the 3rd quarter valued at about $26,000. Vigilant Capital Management LLC purchased a new position in shares of Paychex in the 3rd quarter worth approximately $27,000. Cornerstone Advisors Inc. grew its position in shares of Paychex by 91.9% in the 3rd quarter. Cornerstone Advisors Inc. now owns 330 shares of the business services provider’s stock worth $27,000 after buying an additional 158 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Paychex by 58.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 348 shares of the business services provider’s stock worth $29,000 after buying an additional 128 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of Paychex in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 69.31% of the company’s stock.

A number of brokerages have recently issued reports on PAYX. Robert W. Baird lifted their price objective on shares of Paychex from $83.00 to $87.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Argus reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Paychex in a research report on Thursday, October 3rd. BidaskClub downgraded shares of Paychex from a “sell” rating to a “strong sell” rating in a research report on Friday, December 27th. Barclays lifted their price objective on shares of Paychex from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Paychex in a research report on Wednesday, December 18th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $82.71.

In other Paychex news, CEO Martin Mucci sold 31,865 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $84.86, for a total transaction of $2,704,063.90. Following the sale, the chief executive officer now owns 362,806 shares of the company’s stock, valued at approximately $30,787,717.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael E. Gioja sold 17,881 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $85.81, for a total transaction of $1,534,368.61. Following the sale, the vice president now directly owns 70,023 shares in the company, valued at approximately $6,008,673.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,886 shares of company stock worth $9,635,872. 11.70% of the stock is owned by insiders.

NASDAQ:PAYX traded up $0.51 during trading hours on Tuesday, hitting $86.77. 10,049 shares of the company were exchanged, compared to its average volume of 1,394,261. The stock has a market capitalization of $30.52 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 3.92 and a beta of 0.87. Paychex, Inc. has a 52-week low of $66.71 and a 52-week high of $88.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The company’s 50 day moving average price is $85.14 and its 200-day moving average price is $83.87.

Paychex (NASDAQ:PAYX) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $990.70 million for the quarter, compared to the consensus estimate of $988.26 million. Paychex had a net margin of 26.72% and a return on equity of 41.21%. Paychex’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. On average, equities analysts predict that Paychex, Inc. will post 3.11 earnings per share for the current year.

Paychex Company Profile

Paychex, Inc provides payroll, human resource (HR), retirement, 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.

Recommended Story: Why do earnings reports matter?

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX).

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.