Wealth Alliance Advisory Group LLC Invests $430,000 in Paychex, Inc. (NASDAQ:PAYX)

Wealth Alliance Advisory Group LLC purchased a new stake in shares of Paychex, Inc. (NASDAQ:PAYX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,207 shares of the business services provider’s stock, valued at approximately $430,000.

Several other institutional investors have also added to or reduced their stakes in PAYX. Meeder Asset Management Inc. grew its position 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 in the last quarter. ORG Partners LLC boosted its holdings 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 purchasing an additional 173 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Paychex during the 2nd quarter valued at approximately $30,000. Chilton Capital Management LLC purchased a new stake in Paychex during the 1st quarter valued at $31,000. Finally, ESL Trust Services LLC bought a new stake in Paychex in the first quarter worth $31,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

PAYX stock opened at $141.53 on Friday. Paychex, Inc. has a 1-year low of $106.27 and a 1-year high of $144.17. The business has a 50-day moving average price of $133.36 and a 200 day moving average price of $126.18. The company has a market capitalization of $50.95 billion, a P/E ratio of 30.31, a PEG ratio of 3.91 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

Paychex (NASDAQ:PAYX) last announced its quarterly earnings results 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 firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations 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 prior year, the company 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 declared 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. The ex-dividend date is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.77%. Paychex’s dividend payout ratio is presently 83.94%.

Analyst Ratings Changes

PAYX has been the topic of a number of analyst reports. 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 raised their price objective on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Bank of America raised their price target on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research note on Thursday, June 27th. Finally, Jefferies Financial Group upped their price objective on Paychex from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat, Paychex currently has a consensus rating of “Hold” and a consensus target price of $130.77.

Insider Transactions at Paychex

In related news, CFO Robert L. Schrader sold 13,015 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 17,362 shares of the company’s stock, valued at $2,471,480.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Mark Anthony Bottini sold 8,954 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $123.60, for a total transaction of $1,106,714.40. Following the completion of the sale, the vice president now owns 79,232 shares in the company, valued at approximately $9,793,075.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert L. Schrader sold 13,015 shares of the business’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 transaction, the chief financial officer now 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 disclosure for this sale can be found here. In the last three months, insiders sold 87,177 shares of company stock valued at $11,698,870. Corporate insiders own 11.50% of the company’s stock.

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.