Rothschild Investment LLC purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 717 shares of the business services provider’s stock, valued at approximately $85,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ethos Financial Group LLC boosted its stake in Paychex by 4.6% during the 4th quarter. Ethos Financial Group LLC now owns 1,952 shares of the business services provider’s stock worth $232,000 after purchasing an additional 85 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Paychex by 1.2% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 7,362 shares of the business services provider’s stock worth $873,000 after buying an additional 85 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Paychex by 3.8% in 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 period. Rockland Trust Co. raised its stake in Paychex by 1.1% during the 1st quarter. Rockland Trust Co. now owns 9,074 shares of the business services provider’s stock valued at $1,114,000 after acquiring an additional 98 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its position in Paychex by 3.2% during the 1st quarter. KCM Investment Advisors LLC now owns 3,190 shares of the business services provider’s stock worth $392,000 after acquiring an additional 98 shares during the period. 83.47% of the stock is currently owned by institutional investors and hedge funds.
Paychex Stock Up 0.1 %
Paychex stock opened at $132.04 on Thursday. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $133.12. The firm has a market capitalization of $47.55 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 3.47 and a beta of 1.00. The stock’s fifty day moving average is $124.29 and its two-hundred day moving average is $122.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.37 and a current ratio of 1.37.
Paychex Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, August 8th. Paychex’s dividend payout ratio (DPR) is presently 83.94%.
Insiders Place Their Bets
In related news, Director David J. S. Flaschen sold 14,434 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $125.21, for a total value of $1,807,281.14. Following the completion of the transaction, the director now owns 5,383 shares of the company’s stock, valued at approximately $674,005.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the transaction, the director now owns 5,383 shares of the company’s stock, valued at approximately $674,005.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John B. Gibson sold 12,670 shares of Paychex stock in a transaction on Monday, July 15th. The shares were sold at an average price of $119.53, for a total value of $1,514,445.10. Following the completion of the sale, the chief executive officer now directly owns 55,745 shares of the company’s stock, valued at approximately $6,663,199.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,163 shares of company stock valued at $17,537,817. Corporate insiders own 11.50% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on PAYX shares. Morgan Stanley lowered their price objective on shares of Paychex from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 27th. JPMorgan Chase & Co. boosted their price target on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Barclays reduced their price objective on shares of Paychex from $120.00 to $118.00 and set an “equal weight” rating for the company in a research report on Monday, July 1st. Bank of America boosted their target price on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, June 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $130.00 price target on shares of Paychex in a report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Paychex currently has a consensus rating of “Hold” and an average target price of $122.62.
Read Our Latest Analysis on Paychex
Paychex Company Profile
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.
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