6,604 Shares in Paychex, Inc. (NASDAQ:PAYX) Bought by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,604 shares of the business services provider’s stock, valued at approximately $886,000.

A number of other institutional investors have also bought and sold shares of the company. Kingswood Wealth Advisors LLC increased its stake in shares of Paychex by 30.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,490 shares of the business services provider’s stock valued at $429,000 after acquiring an additional 822 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Paychex by 4.1% in the first quarter. Sunbelt Securities Inc. now owns 4,919 shares of the business services provider’s stock valued at $604,000 after purchasing an additional 196 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Paychex by 37.6% during the first quarter. Brookstone Capital Management now owns 2,418 shares of the business services provider’s stock valued at $297,000 after purchasing an additional 661 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Paychex by 9.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,908 shares of the business services provider’s stock worth $234,000 after purchasing an additional 168 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its position in shares of Paychex by 11.7% during the 1st quarter. Kathmere Capital Management LLC now owns 2,760 shares of the business services provider’s stock worth $339,000 after purchasing an additional 289 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

Insider Buying and Selling at Paychex

In other 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 completion of the transaction, the director now owns 5,383 shares in the company, valued at approximately $674,005.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Paychex news, VP Michael E. Gioja sold 26,428 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total transaction of $3,674,284.84. Following the sale, the vice president now owns 14,515 shares in the company, valued at $2,018,020.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David J. S. Flaschen sold 14,434 shares of Paychex stock in a transaction on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,608 shares of company stock worth $9,384,512 over the last ninety days. 11.40% of the stock is currently owned by company insiders.

Paychex Price Performance

PAYX opened at $141.68 on Friday. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $144.17. The firm has a 50-day moving average of $134.36 and a 200 day moving average of $126.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $50.99 billion, a P/E ratio of 30.21, a PEG ratio of 3.88 and a beta of 1.00.

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

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is currently 83.58%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group upped their price target on Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Jefferies Financial Group lifted their price target on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America increased their price objective on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research note on Thursday, June 27th. Finally, Barclays upped their price target on Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.