Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. cut its stake in Paychex, Inc. (NASDAQ:PAYX) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,890 shares of the business services provider’s stock after selling 235 shares during the period. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P.’s holdings in Paychex were worth $1,878,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Iberiabank Corp raised its stake in shares of Paychex by 7.4% in the fourth quarter. Iberiabank Corp now owns 92,625 shares of the business services provider’s stock worth $5,639,000 after buying an additional 6,402 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Paychex by 0.8% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 641,485 shares of the business services provider’s stock worth $39,054,000 after buying an additional 4,965 shares during the last quarter. Amtrust Financial Services Inc. acquired a new stake in shares of Paychex during the fourth quarter worth about $1,260,000. Baird Financial Group Inc. raised its stake in shares of Paychex by 20.9% in the fourth quarter. Baird Financial Group Inc. now owns 452,753 shares of the business services provider’s stock worth $27,564,000 after buying an additional 78,170 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC raised its stake in shares of Paychex by 7.1% in the first quarter. Franklin Street Advisors Inc. NC now owns 99,336 shares of the business services provider’s stock worth $5,851,000 after buying an additional 6,623 shares during the last quarter. Hedge funds and other institutional investors own 68.51% of the company’s stock.
Paychex, Inc. (NASDAQ:PAYX) opened at 61.13 on Tuesday. The stock’s 50 day moving average price is $58.77 and its 200-day moving average price is $59.94. Paychex, Inc. has a 12 month low of $52.78 and a 12 month high of $63.03. The stock has a market cap of $21.96 billion, a price-to-earnings ratio of 27.79 and a beta of 0.96.
Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, March 29th. The business services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Paychex had a net margin of 25.75% and a return on equity of 42.04%. The business had revenue of $795.80 million during the quarter, compared to analysts’ expectations of $799.08 million. During the same quarter in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts expect that Paychex, Inc. will post $2.23 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Wednesday, May 10th were paid a $0.46 dividend. The ex-dividend date was Monday, May 8th. This represents a $1.84 annualized dividend and a dividend yield of 3.01%. Paychex’s dividend payout ratio (DPR) is 85.58%.
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PAYX has been the subject of a number of analyst reports. Jefferies Group LLC reiterated a “sell” rating and issued a $50.00 price target on shares of Paychex in a research note on Tuesday, March 21st. Wedbush reiterated a “neutral” rating and issued a $61.25 price target (down previously from $65.00) on shares of Paychex in a research note on Tuesday, June 6th. BMO Capital Markets cut their price target on Paychex from $61.00 to $60.00 and set a “market perform” rating for the company in a research note on Thursday, March 30th. Finally, Goldman Sachs Group, Inc. (The) lowered Paychex from a “buy” rating to a “neutral” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $58.85.
In other news, VP Mark Anthony Bottini sold 35,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $60.01, for a total value of $2,100,350.00. Following the completion of the sale, the vice president now owns 47,007 shares of the company’s stock, valued at approximately $2,820,890.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph M. Velli sold 9,000 shares of the stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $58.29, for a total transaction of $524,610.00. Following the completion of the sale, the director now directly owns 30,624 shares of the company’s stock, valued at approximately $1,785,072.96. The disclosure for this sale can be found here. In the last three months, insiders sold 64,654 shares of company stock valued at $3,827,829. Corporate insiders own 11.60% of the company’s stock.
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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