Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Cwm LLC

Cwm LLC lifted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,998 shares of the business services provider’s stock after purchasing an additional 2,321 shares during the quarter. Cwm LLC’s holdings in Paychex were worth $2,549,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PAYX. Daymark Wealth Partners LLC raised its stake in shares of Paychex by 0.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock worth $1,167,000 after buying an additional 82 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Paychex by 1.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 7,362 shares of the business services provider’s stock valued at $873,000 after buying an additional 85 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Paychex by 3.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,543 shares of the business services provider’s stock valued at $312,000 after acquiring an additional 92 shares during the last quarter. Rockland Trust Co. grew its holdings in shares of Paychex by 1.1% in the 1st quarter. Rockland Trust Co. now owns 9,074 shares of the business services provider’s stock worth $1,114,000 after acquiring an additional 98 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its position in shares of Paychex by 3.2% during the first quarter. KCM Investment Advisors LLC now owns 3,190 shares of the business services provider’s stock worth $392,000 after purchasing an additional 98 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Paychex news, VP Mark Anthony Bottini sold 8,954 shares of Paychex stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total value of $1,106,714.40. Following the transaction, the vice president now directly owns 79,232 shares of the company’s stock, valued at $9,793,075.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Paychex news, VP Mark Anthony Bottini sold 8,954 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total value of $1,106,714.40. Following the sale, the vice president now directly owns 79,232 shares in the company, valued at $9,793,075.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David J. S. Flaschen sold 9,615 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $125.60, for a total transaction of $1,207,644.00. Following the transaction, the director now directly owns 5,383 shares of the company’s stock, valued at $676,104.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,162 shares of company stock valued at $9,846,185. Insiders own 11.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. UBS Group increased their target price on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Citigroup increased their price objective on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Morgan Stanley lifted their target price on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $130.77.

Paychex Price Performance

NASDAQ PAYX opened at $142.35 on Tuesday. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $142.73. The stock’s 50-day moving average is $131.94 and its two-hundred day moving average is $125.64. The firm has a market cap of $51.24 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 3.73 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

Paychex (NASDAQ:PAYX) last posted its earnings results on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $1.14 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 7th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.75%. Paychex’s payout ratio is presently 83.94%.

About Paychex

Paychex, Inc, together with its subsidiaries, provides integrated human capital management solutions (HCM) for payroll, benefits, human resources (HR), 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.