Paychex, Inc. (NASDAQ:PAYX) Shares Sold by Csenge Advisory Group


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Csenge Advisory Group reduced its stake in Paychex, Inc. (NASDAQ:PAYX) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,819 shares of the business services provider’s stock after selling 304 shares during the period. Csenge Advisory Group’s holdings in Paychex were worth $753,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PAYX. JGP Wealth Management LLC raised its holdings in shares of Paychex by 1.5% during the first quarter. JGP Wealth Management LLC now owns 66,753 shares of the business services provider’s stock valued at $6,543,000 after buying an additional 986 shares during the last quarter. Eastern Bank raised its holdings in shares of Paychex by 4.6% during the first quarter. Eastern Bank now owns 31,427 shares of the business services provider’s stock valued at $3,081,000 after buying an additional 1,384 shares during the last quarter. Venture Visionary Partners LLC bought a new stake in shares of Paychex during the first quarter valued at approximately $466,000. Illinois Municipal Retirement Fund raised its holdings in shares of Paychex by 34.4% during the first quarter. Illinois Municipal Retirement Fund now owns 7,748 shares of the business services provider’s stock valued at $759,000 after buying an additional 1,984 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of Paychex by 9.5% during the first quarter. Stratos Wealth Advisors LLC now owns 6,629 shares of the business services provider’s stock valued at $650,000 after buying an additional 577 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

NASDAQ PAYX opened at $99.06 on Tuesday. Paychex, Inc. has a twelve month low of $60.00 and a twelve month high of $101.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $35.70 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 3.81 and a beta of 0.90. The firm’s 50 day moving average price is $97.72 and its two-hundred day moving average price is $92.25.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings data on Monday, April 5th. The business services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Paychex had a net margin of 26.66% and a return on equity of 37.99%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company posted $0.97 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts forecast that Paychex, Inc. will post 2.94 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 27th. Shareholders of record on Wednesday, May 12th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.67%. This is a boost from Paychex’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, May 11th. Paychex’s payout ratio is presently 82.67%.

In other news, CEO Martin Mucci sold 50,000 shares of the business’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $91.09, for a total transaction of $4,554,500.00. Also, Director Joseph M. Velli sold 3,753 shares of the business’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $96.93, for a total transaction of $363,778.29. Following the transaction, the director now owns 52,619 shares in the company, valued at $5,100,359.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,047 shares of company stock worth $8,289,914. 11.70% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on PAYX shares. Robert W. Baird lifted their price target on Paychex from $82.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, April 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Paychex from $93.00 to $105.00 in a report on Tuesday, January 5th. Argus boosted their target price on Paychex from $103.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Paychex from $81.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, January 4th. Finally, Morgan Stanley dropped their target price on Paychex from $91.00 to $90.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $93.00.

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 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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