Inscription Capital LLC Has $340,000 Stake in Paychex, Inc. (NASDAQ:PAYX)

Inscription Capital LLC increased its stake in Paychex, Inc. (NASDAQ:PAYX) by 15.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,533 shares of the business services provider’s stock after purchasing an additional 332 shares during the quarter. Inscription Capital LLC’s holdings in Paychex were worth $340,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PAYX. Ridgepath Capital Management LLC boosted its holdings in Paychex by 0.7% during the third quarter. Ridgepath Capital Management LLC now owns 37,625 shares of the business services provider’s stock valued at $5,049,000 after acquiring an additional 273 shares during the period. Hamlin Capital Management LLC increased its stake in shares of Paychex by 9.3% in the third quarter. Hamlin Capital Management LLC now owns 1,153,530 shares of the business services provider’s stock worth $154,792,000 after purchasing an additional 97,867 shares during the period. GHP Investment Advisors Inc. lifted its position in shares of Paychex by 5.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 13,182 shares of the business services provider’s stock worth $1,769,000 after purchasing an additional 626 shares during the last quarter. Covenant Partners LLC boosted its stake in Paychex by 3.6% during the 3rd quarter. Covenant Partners LLC now owns 12,376 shares of the business services provider’s stock valued at $1,661,000 after purchasing an additional 433 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Paychex by 5.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 86,565 shares of the business services provider’s stock valued at $11,616,000 after buying an additional 4,521 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Down 0.0 %

NASDAQ PAYX opened at $140.27 on Tuesday. Paychex, Inc. has a 1-year low of $106.27 and a 1-year high of $144.17. The company has a market capitalization of $50.48 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 3.86 and a beta of 1.00. The stock’s 50 day moving average is $135.28 and its two-hundred day moving average is $126.95. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX) last announced 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. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Paychex’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.

Paychex Dividend Announcement

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

Analyst Upgrades and Downgrades

PAYX has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 2nd. Barclays upped their target price on shares of Paychex from $118.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised their price target on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. TD Cowen upped their price objective on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group lifted their target price on 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 assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $130.77.

Insider Buying and Selling

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