Roberts Glore & Co. Inc. IL reduced its position in shares of Paychex Inc. (NASDAQ:PAYX) by 4.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,575 shares of the company’s stock after selling 225 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Paychex were worth $272,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Prudential PLC boosted its stake in shares of Paychex by 31.3% in the first quarter. Prudential PLC now owns 23,900 shares of the company’s stock worth $1,291,000 after buying an additional 5,700 shares during the period. Geode Capital Management LLC boosted its stake in shares of Paychex by 5.9% in the first quarter. Geode Capital Management LLC now owns 3,289,199 shares of the company’s stock worth $177,365,000 after buying an additional 182,390 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Paychex by 81.9% in the first quarter. Loomis Sayles & Co. L P now owns 3,217 shares of the company’s stock worth $174,000 after buying an additional 1,448 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Paychex by 0.9% in the first quarter. Cleararc Capital Inc. now owns 18,497 shares of the company’s stock worth $999,000 after buying an additional 162 shares during the period. Finally, Pictet Asset Management Ltd. boosted its stake in shares of Paychex by 6.1% in the first quarter. Pictet Asset Management Ltd. now owns 370,655 shares of the company’s stock worth $19,048,000 after buying an additional 21,370 shares during the period. 69.37% of the stock is owned by hedge funds and other institutional investors.
Paychex Inc. (NASDAQ:PAYX) traded down 0.82% during trading on Monday, reaching $55.74. The company had a trading volume of 2,147,302 shares. The company has a 50-day moving average of $58.80 and a 200-day moving average of $56.69. Paychex Inc. has a 52-week low of $45.76 and a 52-week high of $61.87. The firm has a market capitalization of $20.16 billion, a P/E ratio of 26.42 and a beta of 0.88.
Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, September 28th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The business earned $785.50 million during the quarter, compared to the consensus estimate of $782.80 million. Paychex had a return on equity of 40.10% and a net margin of 25.38%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. Analysts expect that Paychex Inc. will post $2.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 1st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, October 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.30%. Paychex’s dividend payout ratio is presently 87.20%.
A number of brokerages recently issued reports on PAYX. Sanford C. Bernstein raised Paychex to a “sell” rating in a research report on Monday, July 11th. Zacks Investment Research raised Paychex from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Wedbush started coverage on Paychex in a research report on Thursday, September 8th. They set a “neutral” rating and a $65.00 price objective for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $49.00 price objective on shares of Paychex in a research report on Tuesday, August 23rd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $56.00 price objective (up from $51.00) on shares of Paychex in a research report on Wednesday, July 6th. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.00.
In other Paychex news, VP John B. Gibson sold 11,450 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $59.00, for a total value of $675,550.00. Following the completion of the sale, the vice president now directly owns 21,451 shares in the company, valued at $1,265,609. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Doody sold 44,441 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $60.51, for a total value of $2,689,124.91. Following the completion of the sale, the director now owns 19,158 shares of the company’s stock, valued at $1,159,250.58. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.
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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