Koshinski Asset Management Inc. Has $710,000 Stock Position in Paychex, Inc. (NASDAQ:PAYX)

Koshinski Asset Management Inc. lowered its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,965 shares of the business services provider’s stock after selling 709 shares during the period. Koshinski Asset Management Inc.’s holdings in Paychex were worth $710,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new stake in shares of Paychex in the 2nd quarter worth about $26,000. OFI Invest Asset Management acquired a new stake in shares of Paychex in the 3rd quarter worth about $26,000. Carmel Capital Partners LLC acquired a new stake in shares of Paychex in the 3rd quarter worth about $28,000. Larson Financial Group LLC raised its holdings in shares of Paychex by 91.5% in the 3rd quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock worth $31,000 after acquiring an additional 130 shares during the last quarter. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of Paychex in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Stock Down 1.0 %

PAYX opened at $123.00 on Friday. The company has a 50 day moving average of $122.23 and a 200 day moving average of $120.06. The company has a market cap of $44.28 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 3.47 and a beta of 0.93. Paychex, Inc. has a 12 month low of $104.09 and a 12 month high of $129.70. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.37 by $0.01. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.46 billion. Paychex had a net margin of 31.86% and a return on equity of 46.14%. Paychex’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.29 EPS. On average, sell-side analysts expect that Paychex, Inc. will post 4.71 EPS for the current year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.89%. The ex-dividend date was Monday, February 12th. Paychex’s dividend payout ratio (DPR) is presently 77.56%.

Paychex announced that its board has authorized a stock buyback plan on Friday, January 19th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays lowered their target price on shares of Paychex from $126.00 to $120.00 and set an “equal weight” rating on the stock in a report on Friday, December 22nd. Stifel Nicolaus upped their price objective on shares of Paychex from $124.00 to $130.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $130.00 price objective on shares of Paychex in a research report on Wednesday, April 3rd. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of Paychex in a research report on Wednesday, April 3rd. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $118.00 price objective on shares of Paychex in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $123.00.

Insider Buying and Selling

In other Paychex news, VP Mark Anthony Bottini sold 15,481 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $120.53, for a total value of $1,865,924.93. Following the sale, the vice president now directly owns 82,690 shares in the company, valued at approximately $9,966,625.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.50% of the stock is owned by insiders.

Paychex Company Profile

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.