Jamison Private Wealth Management Inc. Boosts Stock Holdings in Paychex, Inc. (NASDAQ:PAYX)

Jamison Private Wealth Management Inc. grew its position in Paychex, Inc. (NASDAQ:PAYX) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 46,998 shares of the business services provider’s stock after buying an additional 268 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Paychex were worth $6,307,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC acquired a new stake in Paychex in the 4th quarter valued at approximately $642,000. Nomura Holdings Inc. purchased a new position in Paychex during the 4th quarter valued at about $774,000. GAMMA Investing LLC grew its position in Paychex by 35.5% in the 1st quarter. GAMMA Investing LLC now owns 2,104 shares of the business services provider’s stock valued at $258,000 after acquiring an additional 551 shares in the last quarter. First Hawaiian Bank increased its stake in Paychex by 2.8% during the first quarter. First Hawaiian Bank now owns 14,033 shares of the business services provider’s stock worth $1,723,000 after purchasing an additional 385 shares during the period. Finally, RFG Advisory LLC lifted its position in shares of Paychex by 1.7% during the first quarter. RFG Advisory LLC now owns 11,779 shares of the business services provider’s stock worth $1,447,000 after purchasing an additional 200 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Price Performance

Shares of NASDAQ PAYX opened at $142.30 on Wednesday. The stock’s 50-day simple moving average is $132.28 and its 200-day simple moving average is $125.78. 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 capitalization of $51.22 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 3.73 and a beta of 1.00. Paychex, Inc. has a fifty-two week low of $106.27 and a fifty-two week high of $144.17.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.31 billion. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. As a group, equities research analysts forecast that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be paid a $0.98 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.92 annualized dividend and a yield of 2.75%. Paychex’s dividend payout ratio is presently 83.94%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Barclays upped their price objective on Paychex from $118.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Stifel Nicolaus lifted their target price on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. TD Cowen boosted their target price on Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, UBS Group lifted their price objective on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. 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 data from MarketBeat.com, Paychex presently has a consensus rating of “Hold” and a consensus target price of $130.77.

Insiders Place Their Bets

In related news, Director David J. S. Flaschen sold 9,615 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $125.60, for a total value of $1,207,644.00. Following the completion of the sale, the director now directly owns 5,383 shares of the company’s stock, valued at $676,104.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of Paychex 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 transaction, the director now directly owns 5,383 shares in the company, valued at approximately $674,005.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David J. S. Flaschen sold 9,615 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $125.60, for a total value of $1,207,644.00. Following the sale, the director now owns 5,383 shares of the company’s stock, valued at $676,104.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,162 shares of company stock valued at $9,846,185. 11.50% of the stock is currently owned by insiders.

Paychex Company 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.