Clear Rock Advisors LLC Buys 1,195 Shares of Paychex, Inc. (NASDAQ:PAYX)

Clear Rock Advisors LLC lifted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,139 shares of the business services provider’s stock after purchasing an additional 1,195 shares during the period. Paychex accounts for 1.2% of Clear Rock Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Clear Rock Advisors LLC’s holdings in Paychex were worth $2,743,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in shares of Paychex by 286.0% in the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock valued at $26,000 after buying an additional 163 shares during the period. ORG Partners LLC increased its holdings in Paychex by 227.6% in the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. ESL Trust Services LLC bought a new stake in Paychex in the 1st quarter valued at about $31,000. Chilton Capital Management LLC purchased a new stake in Paychex during the first quarter valued at about $31,000. Finally, American National Bank boosted its position in Paychex by 166.7% during the second quarter. American National Bank now owns 288 shares of the business services provider’s stock worth $34,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Stock Up 4.9 %

Shares of NASDAQ PAYX opened at $140.79 on Wednesday. The business has a 50-day moving average of $129.53 and a 200-day moving average of $124.49. The firm has a market capitalization of $50.68 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 3.54 and a beta of 1.00. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.21. Paychex, Inc. has a 12 month low of $106.27 and a 12 month high of $141.59.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders 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 dividend yield of 2.78%. The ex-dividend date was Thursday, August 8th. Paychex’s dividend payout ratio is currently 83.94%.

Analyst Ratings Changes

PAYX has been the topic of a number of recent research reports. Bank of America upped their price target on shares of Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a research note on Thursday, June 27th. Citigroup increased their target price on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen raised their price target on Paychex from $121.00 to $126.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Barclays boosted their price objective on Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $130.00 target price on shares of Paychex in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $125.62.

Insider Transactions at Paychex

In other news, Director David J. S. Flaschen sold 14,434 shares of Paychex stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $125.21, for a total value of $1,807,281.14. Following the transaction, the director now owns 5,383 shares in the company, valued at $674,005.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Mark Anthony Bottini sold 8,954 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the completion of the sale, the vice president now directly owns 79,232 shares in the company, valued at approximately $9,793,075.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David J. S. Flaschen sold 14,434 shares of the firm’s 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 completion of the sale, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,673 shares of company stock valued at $5,636,085. Insiders own 11.50% of the company’s stock.

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.