Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Nikulski Financial Inc.

Nikulski Financial Inc. lifted its holdings in Paychex, Inc. (NASDAQ:PAYX) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,935 shares of the business services provider’s stock after acquiring an additional 140 shares during the quarter. Nikulski Financial Inc.’s holdings in Paychex were worth $260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in shares of Paychex by 286.0% during the 2nd 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 last quarter. ORG Partners LLC grew its stake in shares of Paychex by 227.6% during the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after purchasing an additional 173 shares during the period. ESL Trust Services LLC purchased a new position in shares of Paychex during the 1st quarter valued at approximately $31,000. Fortitude Family Office LLC lifted its stake in shares of Paychex by 42.0% in the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 74 shares during the period. Finally, Chilton Capital Management LLC purchased a new stake in Paychex during the first quarter worth $31,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paychex

In related 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 value of $1,807,281.14. Following the transaction, the director now owns 5,383 shares of the company’s stock, valued at $674,005.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Robert L. Schrader sold 13,015 shares of Paychex stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the sale, the chief financial officer now directly owns 17,362 shares in the company, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David J. S. Flaschen sold 14,434 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $125.21, for a total transaction 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 $674,005.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,608 shares of company stock valued at $9,384,512 over the last 90 days. 11.40% of the stock is owned by corporate insiders.

Paychex Trading Down 0.6 %

Shares of PAYX stock traded down $0.79 on Thursday, hitting $140.60. The stock had a trading volume of 97,360 shares, compared to its average volume of 1,779,203. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $50.60 billion, a P/E ratio of 30.06, a P/E/G ratio of 3.86 and a beta of 1.00. The company’s 50 day moving average price is $135.90 and its 200-day moving average price is $127.19. Paychex, Inc. has a 1 year low of $106.27 and a 1 year high of $144.17.

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

Paychex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be paid a dividend of $0.98 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.79%. Paychex’s payout ratio is 83.58%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PAYX. Royal Bank of Canada upped their price objective on shares of Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Citigroup upped their target price on Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. 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 report on Tuesday, August 20th. Finally, UBS Group upped their price objective on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $130.77.

Paychex 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.