Measured Wealth Private Client Group LLC Purchases New Stake in Paychex, Inc. (NASDAQ:PAYX)

Measured Wealth Private Client Group LLC acquired a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,674 shares of the business services provider’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors raised its position in shares of Paychex by 12.8% during the 1st quarter. Capital International Investors now owns 20,878,283 shares of the business services provider’s stock valued at $2,563,853,000 after acquiring an additional 2,373,894 shares in the last quarter. Capital World Investors increased its stake in Paychex by 155.6% during the first quarter. Capital World Investors now owns 2,478,325 shares of the business services provider’s stock valued at $304,338,000 after purchasing an additional 1,508,681 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Paychex by 38,655.2% in the 3rd quarter. International Assets Investment Management LLC now owns 799,907 shares of the business services provider’s stock worth $107,340,000 after buying an additional 797,843 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Paychex by 57.2% in the 1st quarter. TD Asset Management Inc now owns 2,179,930 shares of the business services provider’s stock valued at $267,695,000 after buying an additional 793,468 shares during the period. Finally, Nordea Investment Management AB grew 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 valued at $154,263,000 after buying an additional 579,136 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PAYX shares. UBS Group lifted their target price on Paychex from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price objective on Paychex from $120.00 to $128.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Stifel Nicolaus raised their target price on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen upped their price target on shares of Paychex from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup boosted their target price on shares of Paychex from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $130.77.

Insider Buying and Selling

In other Paychex news, Director David J. S. Flaschen sold 14,434 shares of the company’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Michael E. Gioja sold 26,428 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $139.03, for a total value of $3,674,284.84. Following the completion of the transaction, the vice president now owns 14,515 shares in the company, valued at $2,018,020.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,807,281.14. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,608 shares of company stock worth $9,384,512. Corporate insiders own 11.40% of the company’s stock.

Paychex Stock Down 1.5 %

PAYX opened at $139.33 on Friday. 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 company has a market capitalization of $50.14 billion, a PE ratio of 29.71, a P/E/G ratio of 3.89 and a beta of 1.00. The stock’s fifty day moving average is $136.13 and its 200-day moving average is $127.27. Paychex, Inc. has a one year low of $106.27 and a one year high of $144.17.

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

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, November 7th. Paychex’s dividend payout ratio is presently 83.58%.

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.