Honkamp Krueger Financial Services Inc. Grows Stake in Paychex, Inc. (NASDAQ:PAYX)

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Honkamp Krueger Financial Services Inc. increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,201 shares of the business services provider’s stock after acquiring an additional 209 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Paychex were worth $357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAYX. BlackRock Inc. grew its position in Paychex by 9.7% in the second quarter. BlackRock Inc. now owns 34,524,333 shares of the business services provider’s stock worth $2,841,008,000 after acquiring an additional 3,058,635 shares in the last quarter. Nuveen Asset Management LLC grew its position in Paychex by 15,792.4% in the second quarter. Nuveen Asset Management LLC now owns 1,299,048 shares of the business services provider’s stock worth $106,899,000 after acquiring an additional 1,290,874 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Paychex by 15,894.0% in the second quarter. Cubist Systematic Strategies LLC now owns 447,672 shares of the business services provider’s stock worth $36,839,000 after acquiring an additional 444,873 shares in the last quarter. Vanguard Group Inc. grew its position in Paychex by 1.6% in the second quarter. Vanguard Group Inc. now owns 26,398,764 shares of the business services provider’s stock worth $2,172,355,000 after acquiring an additional 425,365 shares in the last quarter. Finally, Morgan Stanley grew its position in Paychex by 20.9% in the second quarter. Morgan Stanley now owns 2,011,993 shares of the business services provider’s stock worth $165,567,000 after acquiring an additional 348,285 shares in the last quarter. Institutional investors own 69.31% of the company’s stock.

Shares of NASDAQ:PAYX opened at $87.37 on Thursday. Paychex, Inc. has a 1 year low of $67.97 and a 1 year high of $88.43. The business has a 50 day simple moving average of $85.20 and a two-hundred day simple moving average of $83.92. The firm has a market capitalization of $30.52 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 3.92 and a beta of 0.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Paychex (NASDAQ:PAYX) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Paychex had a return on equity of 41.21% and a net margin of 26.72%. The business had revenue of $990.70 million during the quarter, compared to analyst estimates of $988.26 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts expect that Paychex, Inc. will post 3.11 EPS for the current fiscal year.

In other Paychex news, Director David J. S. Flaschen sold 13,052 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $84.50, for a total transaction of $1,102,894.00. Following the completion of the transaction, the director now owns 43,564 shares in the company, valued at $3,681,158. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael E. Gioja sold 17,881 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $85.81, for a total value of $1,534,368.61. Following the transaction, the vice president now owns 70,023 shares of the company’s stock, valued at approximately $6,008,673.63. The disclosure for this sale can be found here. Insiders have sold 81,021 shares of company stock valued at $6,931,808 in the last 90 days. Company insiders own 11.70% of the company’s stock.

Several research firms recently commented on PAYX. Robert W. Baird lifted their price target on Paychex from $83.00 to $87.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Argus reiterated a “buy” rating and issued a $92.00 price target on shares of Paychex in a research report on Thursday, October 3rd. Barclays lifted their price target on Paychex from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. BidaskClub upgraded Paychex from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, Citigroup upgraded Paychex from a “neutral” rating to a “buy” rating and boosted their target price for the company from $84.00 to $97.00 in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $84.50.

Paychex Company Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

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Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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