AMG National Trust Bank Invests $288,000 in Paychex, Inc. (NASDAQ:PAYX)

AMG National Trust Bank acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYXGet Rating) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,571 shares of the business services provider’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also made changes to their positions in PAYX. Fairfield Bush & CO. acquired a new position in shares of Paychex during the 1st quarter worth about $269,000. Vontobel Holding Ltd. boosted its position in shares of Paychex by 35.7% in the 1st quarter. Vontobel Holding Ltd. now owns 5,455 shares of the business services provider’s stock valued at $747,000 after purchasing an additional 1,436 shares during the period. Sei Investments Co. boosted its position in shares of Paychex by 118.3% in the 1st quarter. Sei Investments Co. now owns 91,985 shares of the business services provider’s stock valued at $12,554,000 after purchasing an additional 49,851 shares during the period. Prudential PLC acquired a new stake in shares of Paychex in the 1st quarter valued at about $1,019,000. Finally, Brighton Jones LLC acquired a new stake in shares of Paychex in the 1st quarter valued at about $237,000. 71.14% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Performance

PAYX opened at $118.62 on Wednesday. The company has a market capitalization of $42.76 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 3.76 and a beta of 0.98. Paychex, Inc. has a 1-year low of $105.66 and a 1-year high of $141.92. The business has a 50 day moving average price of $119.02 and a two-hundred day moving average price of $120.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.30 and a quick ratio of 1.30.

Paychex (NASDAQ:PAYXGet Rating) last announced its earnings results on Thursday, December 22nd. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. Paychex had a net margin of 30.45% and a return on equity of 45.50%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $0.91 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts predict that Paychex, Inc. will post 4.25 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 23rd. Shareholders of record on Thursday, February 9th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.66%. The ex-dividend date is Wednesday, February 8th. Paychex’s dividend payout ratio (DPR) is currently 78.02%.

Insider Buying and Selling at Paychex

In other Paychex news, VP Michael E. Gioja sold 13,744 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $115.30, for a total transaction of $1,584,683.20. Following the sale, the vice president now directly owns 33,268 shares of the company’s stock, valued at approximately $3,835,800.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 11.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com initiated coverage on Paychex in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Credit Suisse Group dropped their price objective on Paychex from $150.00 to $138.00 and set an “outperform” rating for the company in a research note on Thursday, September 29th. Deutsche Bank Aktiengesellschaft dropped their price target on Paychex from $123.00 to $116.00 in a research report on Tuesday, January 3rd. Cowen raised their price target on Paychex from $125.00 to $132.00 and gave the stock an “outperform” rating in a research report on Thursday, September 29th. Finally, Morgan Stanley dropped their price target on Paychex from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, December 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $124.08.

Paychex Company Profile

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Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

See Also

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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