CreativeOne Wealth LLC Has $784,000 Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

CreativeOne Wealth LLC lifted its position in Paychex, Inc. (NASDAQ:PAYX) by 138.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,384 shares of the business services provider’s stock after buying an additional 3,705 shares during the quarter. CreativeOne Wealth LLC’s holdings in Paychex were worth $784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PAYX. Vanguard Group Inc. boosted its holdings in Paychex by 0.4% during the first quarter. Vanguard Group Inc. now owns 30,541,306 shares of the business services provider’s stock valued at $3,750,472,000 after acquiring an additional 123,268 shares during the period. Capital International Investors boosted its stake in Paychex by 9.0% during the 4th quarter. Capital International Investors now owns 18,504,389 shares of the business services provider’s stock valued at $2,204,115,000 after purchasing an additional 1,523,520 shares during the period. Envestnet Asset Management Inc. grew its holdings in Paychex by 2.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,687,859 shares of the business services provider’s stock valued at $320,151,000 after buying an additional 56,793 shares during the last quarter. FIL Ltd increased its position in Paychex by 32.4% in the 4th quarter. FIL Ltd now owns 2,548,000 shares of the business services provider’s stock worth $303,492,000 after buying an additional 623,000 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Paychex by 57.2% during the first quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock worth $267,695,000 after buying an additional 793,468 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Paychex from $125.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $130.00 price target on shares of Paychex in a research report on Thursday, June 27th. Robert W. Baird cut their price objective on shares of Paychex from $126.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Bank of America lifted their target price on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research report on Thursday, June 27th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of Paychex in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $122.46.

Insider Activity

In related news, Director David J. S. Flaschen sold 19,709 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $124.55, for a total transaction of $2,454,755.95. Following the completion of the sale, the director now directly owns 5,383 shares of the company’s stock, valued at approximately $670,452.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Martin Mucci sold 101,490 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $117.27, for a total transaction of $11,901,732.30. Following the transaction, the chairman now directly owns 437,345 shares in the company, valued at $51,287,448.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David J. S. Flaschen sold 19,709 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $124.55, for a total transaction of $2,454,755.95. Following the completion of the sale, the director now directly owns 5,383 shares of the company’s stock, valued at approximately $670,452.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,823 shares of company stock worth $16,977,648. Insiders own 11.50% of the company’s stock.

Paychex Price Performance

PAYX stock traded up $1.77 during trading on Friday, hitting $125.75. The company had a trading volume of 1,371,622 shares, compared to its average volume of 2,067,192. The company has a fifty day moving average price of $121.91 and a two-hundred day moving average price of $121.80. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $129.70. The company has a market cap of $45.29 billion, a P/E ratio of 26.93, a P/E/G ratio of 3.28 and a beta of 1.00. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 26th. The business services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.10 by $0.02. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Paychex had a net margin of 32.03% and a return on equity of 46.63%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS. Equities research analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Thursday, August 8th. Paychex’s payout ratio is 83.94%.

Paychex Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.