Paychex, Inc. (NASDAQ:PAYX) Shares Purchased by Monument Capital Management

Monument Capital Management increased its holdings in Paychex, Inc. (NASDAQ:PAYXGet Rating) by 21.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,076 shares of the business services provider’s stock after buying an additional 363 shares during the quarter. Monument Capital Management’s holdings in Paychex were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in Paychex during the fourth quarter valued at approximately $185,510,000. State Street Corp grew its stake in shares of Paychex by 4.2% during the 4th quarter. State Street Corp now owns 13,889,507 shares of the business services provider’s stock worth $1,895,918,000 after purchasing an additional 553,659 shares during the period. Marshall Wace LLP increased its holdings in shares of Paychex by 344.9% during the 4th quarter. Marshall Wace LLP now owns 434,801 shares of the business services provider’s stock valued at $59,352,000 after purchasing an additional 337,069 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Paychex by 53.3% during the fourth quarter. ProShare Advisors LLC now owns 685,945 shares of the business services provider’s stock worth $93,632,000 after buying an additional 238,439 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Paychex by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,765,531 shares of the business services provider’s stock valued at $650,495,000 after buying an additional 195,657 shares during the period. 80.43% of the stock is owned by institutional investors.

PAYX has been the topic of a number of recent analyst reports. Cowen decreased their target price on Paychex from $151.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Paychex from $137.00 to $142.00 in a research report on Thursday, March 31st. StockNews.com assumed coverage on shares of Paychex in a research report on Thursday, March 31st. They set a “hold” rating for the company. Bank of America upgraded Paychex from an “underperform” rating to a “neutral” rating and set a $125.00 price objective on the stock in a report on Wednesday, March 9th. Finally, Jefferies Financial Group reduced their target price on Paychex from $140.00 to $130.00 in a report on Monday, May 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Paychex presently has an average rating of “Hold” and an average target price of $128.67.

Shares of Paychex stock traded up $0.56 during trading hours on Thursday, hitting $116.19. The company’s stock had a trading volume of 19,186 shares, compared to its average volume of 1,541,502. The firm has a fifty day moving average of $124.01 and a 200-day moving average of $124.99. Paychex, Inc. has a twelve month low of $102.58 and a twelve month high of $141.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market cap of $41.95 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 3.81 and a beta of 0.98.

Paychex (NASDAQ:PAYXGet Rating) last posted its earnings results on Wednesday, March 30th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.11. Paychex had a return on equity of 43.02% and a net margin of 30.23%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned $0.96 EPS. Paychex’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts expect that Paychex, Inc. will post 3.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th were given a $0.79 dividend. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $3.16 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Paychex’s previous quarterly dividend of $0.66. Paychex’s dividend payout ratio (DPR) is currently 84.27%.

In other news, VP Michael E. Gioja sold 26,000 shares of the stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $141.26, for a total value of $3,672,760.00. Following the transaction, the vice president now owns 52,349 shares in the company, valued at approximately $7,394,819.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Karen E. Saunders-Mcclendon sold 203 shares of the stock in a transaction dated Friday, April 15th. The shares were sold at an average price of $136.69, for a total value of $27,748.07. Following the completion of the transaction, the vice president now owns 2,994 shares in the company, valued at approximately $409,249.86. The disclosure for this sale can be found here. 11.50% of the stock is owned by company insiders.

Paychex Company Profile (Get Rating)

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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