Paychex, Inc. (NASDAQ:PAYX) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 16.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,070 shares of the business services provider’s stock after buying an additional 6,248 shares during the period. Tectonic Advisors LLC’s holdings in Paychex were worth $5,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PAYX. Meeder Asset Management Inc. raised its holdings in shares of Paychex by 286.0% during the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. ORG Partners LLC raised its holdings in shares of Paychex by 227.6% during the second 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 last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Paychex during the second quarter worth $30,000. Chilton Capital Management LLC purchased a new position in shares of Paychex during the first quarter worth $31,000. Finally, ESL Trust Services LLC purchased a new position in shares of Paychex during the first quarter worth $31,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Paychex Stock Up 0.2 %

Shares of NASDAQ PAYX opened at $141.68 on Friday. The company’s 50-day simple moving average is $134.36 and its 200-day simple moving average is $126.60. Paychex, Inc. has a 52-week low of $106.27 and a 52-week high of $144.17. The firm has a market cap of $50.99 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 3.88 and a beta of 1.00. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

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

Paychex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be given 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 yield of 2.77%. Paychex’s payout ratio is presently 83.58%.

Analyst Ratings Changes

Several research analysts recently issued reports on PAYX shares. Citigroup raised their target price on shares of Paychex from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Bank of America lifted their price objective on shares of Paychex from $111.00 to $113.00 and gave the company an “underperform” rating in a report on Thursday, June 27th. Stifel Nicolaus lifted their price objective on shares of Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Barclays lifted their price objective on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. Finally, TD Cowen lifted their price objective on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat.com, Paychex has a consensus rating of “Hold” and a consensus price target of $130.77.

Insider Buying and Selling

In related news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 17,362 shares in the company, valued at approximately $2,471,480.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $142.35, for a total value of $1,852,685.25. Following the transaction, the chief financial officer now directly owns 17,362 shares in the company, valued at $2,471,480.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael E. Gioja sold 14,731 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $139.18, for a total transaction of $2,050,260.58. Following the completion of the transaction, the vice president now owns 14,515 shares in the company, valued at $2,020,197.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,608 shares of company stock worth $9,384,512. 11.40% of the stock is owned by insiders.

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.