Paychex, Inc. (NASDAQ:PAYX) Stock Position Lifted by Jmac Enterprises LLC

Jmac Enterprises LLC increased its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,200 shares of the business services provider’s stock after purchasing an additional 100 shares during the quarter. Jmac Enterprises LLC’s holdings in Paychex were worth $698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PAYX. Meeder Asset Management Inc. lifted its holdings in Paychex by 286.0% in the second quarter. Meeder Asset Management Inc. now owns 220 shares of the business services provider’s stock worth $26,000 after acquiring an additional 163 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Paychex by 227.6% in the 2nd quarter. ORG Partners LLC now owns 249 shares of the business services provider’s stock worth $29,000 after acquiring an additional 173 shares during the period. ESL Trust Services LLC bought a new position in shares of Paychex in the first quarter valued at approximately $31,000. Fortitude Family Office LLC boosted its holdings in shares of Paychex by 42.0% in the third quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 74 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Paychex during the first quarter valued at approximately $31,000. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Down 0.4 %

Shares of Paychex stock opened at $148.03 on Thursday. Paychex, Inc. has a 12-month low of $112.34 and a 12-month high of $149.26. The stock has a market capitalization of $53.28 billion, a P/E ratio of 31.68, a PEG ratio of 3.84 and a beta of 0.99. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $137.06 and a two-hundred day moving average price of $127.93.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company 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 firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. Equities analysts expect that Paychex, Inc. will post 4.98 earnings per share for the current 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 issued 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 dividend yield of 2.65%. Paychex’s payout ratio is presently 83.58%.

Insider Buying and Selling at Paychex

In related 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 transaction of $1,852,685.25. Following the completion of the sale, the chief financial officer now directly owns 17,362 shares of the company’s stock, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Michael E. Gioja sold 26,428 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $139.03, for a total value of $3,674,284.84. Following the completion of the sale, the vice president now owns 14,515 shares in the company, valued at $2,018,020.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert L. Schrader sold 13,015 shares of Paychex 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 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. Over the last three months, insiders sold 54,174 shares of company stock valued at $7,577,231. 11.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PAYX has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on Paychex from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their target price on Paychex from $122.00 to $133.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. TD Cowen lifted their target price on shares of Paychex from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Two 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, the stock currently has a consensus rating of “Hold” and an average price target of $130.77.

About Paychex

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.