Bison Wealth LLC Has $441,000 Holdings in Paychex, Inc. (NASDAQ:PAYX)

Bison Wealth LLC lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,701 shares of the business services provider’s stock after purchasing an additional 524 shares during the quarter. Bison Wealth LLC’s holdings in Paychex were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Paychex during the 3rd quarter worth approximately $26,000. Carmel Capital Partners LLC bought a new position in Paychex in the 3rd quarter valued at $28,000. Larson Financial Group LLC raised its position in Paychex by 91.5% in the 3rd quarter. Larson Financial Group LLC now owns 272 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. DHJJ Financial Advisors Ltd. bought a new position in Paychex in the 3rd quarter valued at $33,000. Finally, Fortis Group Advisors LLC bought a new position in Paychex in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PAYX shares. Stifel Nicolaus lifted their price objective on Paychex from $124.00 to $130.00 and gave the company a “hold” rating in a research report on Friday, December 22nd. Citigroup dropped their target price on Paychex from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, December 26th. Barclays decreased their price objective on Paychex from $126.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, December 22nd. Bank of America lifted their price objective on Paychex from $108.00 to $111.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $130.00 price objective on shares of Paychex in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.00.

Paychex Trading Down 1.1 %

Shares of PAYX stock opened at $121.14 on Wednesday. The stock’s fifty day moving average price is $122.26 and its two-hundred day moving average price is $120.16. The company has a market cap of $43.61 billion, a PE ratio of 26.39, a P/E/G ratio of 3.45 and a beta of 0.93. Paychex, Inc. has a fifty-two week low of $104.09 and a fifty-two week high of $129.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results on Tuesday, April 2nd. The business services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.01. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Paychex had a return on equity of 46.14% and a net margin of 31.86%. Paychex’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.29 EPS. Equities analysts predict that Paychex, Inc. will post 4.71 EPS for the current fiscal year.

Paychex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Monday, February 12th. Paychex’s dividend payout ratio (DPR) is presently 77.56%.

Paychex declared that its board has initiated a share repurchase plan on Friday, January 19th that authorizes the company to buyback $400.00 million in 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 a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, VP Mark Anthony Bottini sold 15,481 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $120.53, for a total value of $1,865,924.93. Following the completion of the sale, the vice president now directly owns 82,690 shares in the company, valued at approximately $9,966,625.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 11.50% of the stock is currently owned by company insiders.

About Paychex

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.