Paychex, Inc. (NASDAQ:PAYX) Shares Bought by Capital Advisors Inc. OK

Capital Advisors Inc. OK lifted its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 11.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,993 shares of the business services provider’s stock after acquiring an additional 27,551 shares during the quarter. Capital Advisors Inc. OK owned 0.08% of Paychex worth $36,633,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Czech National Bank grew its holdings in Paychex by 8.3% in the second quarter. Czech National Bank now owns 61,049 shares of the business services provider’s stock valued at $7,238,000 after purchasing an additional 4,703 shares during the period. Nordea Investment Management AB raised its position in shares of Paychex by 85.1% during the 1st quarter. Nordea Investment Management AB now owns 1,259,393 shares of the business services provider’s stock worth $154,263,000 after purchasing an additional 579,136 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in Paychex by 4.9% in the 1st quarter. HBK Sorce Advisory LLC now owns 10,250 shares of the business services provider’s stock valued at $1,259,000 after buying an additional 477 shares in the last quarter. Sei Investments Co. increased its stake in Paychex by 5.8% during the 1st quarter. Sei Investments Co. now owns 110,113 shares of the business services provider’s stock worth $13,522,000 after buying an additional 6,033 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of Paychex in the second quarter valued at approximately $2,796,000. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on PAYX shares. Jefferies Financial Group raised their price objective on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price objective on shares of Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada lifted their price objective on Paychex from $130.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 2nd. Finally, UBS Group upped their target price on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $130.77.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $139.09 on Friday. The stock’s 50-day moving average is $136.31 and its two-hundred day moving average is $127.39. 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 company has a market cap of $50.06 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 3.89 and a beta of 1.00. Paychex, Inc. has a 1-year low of $108.58 and a 1-year high of $144.17.

Paychex (NASDAQ:PAYX) last posted its 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 firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Paychex had a return on equity of 45.97% and a net margin of 31.98%. Paychex’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. Analysts forecast that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Announces Dividend

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 2.82%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex’s payout ratio is currently 83.58%.

Insider Activity at Paychex

In other news, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,383 shares of the company’s stock, valued at approximately $674,005.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction dated 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 sale, the director now owns 5,383 shares in the company, valued at approximately $674,005.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief financial officer now owns 17,362 shares in the company, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,608 shares of company stock valued at $9,384,512 in the last three months. 11.40% of the stock is currently owned by company 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.