Capital Advisors Inc. OK Acquires 27,551 Shares of Paychex, Inc. (NASDAQ:PAYX)

Capital Advisors Inc. OK increased its position in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,993 shares of the business services provider's stock after acquiring an additional 27,551 shares during the period. Capital Advisors Inc. OK owned about 0.08% of Paychex worth $36,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PAYX. CVA Family Office LLC grew its holdings in shares of Paychex by 5.6% during the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider's stock valued at $186,000 after purchasing an additional 74 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Paychex by 42.0% in the 3rd 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 during the last quarter. Daymark Wealth Partners LLC lifted its stake in shares of Paychex by 0.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider's stock valued at $1,167,000 after acquiring an additional 82 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Paychex by 1.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 7,362 shares of the business services provider's stock valued at $873,000 after acquiring an additional 85 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Paychex by 3.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,543 shares of the business services provider's stock worth $312,000 after acquiring an additional 92 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PAYX shares. Royal Bank of Canada increased their target price on Paychex from $130.00 to $148.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 2nd. Citigroup lifted their target price on shares of Paychex from $125.00 to $145.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Jefferies Financial Group upped their price target on shares of Paychex from $120.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. UBS Group lifted their price target on shares of Paychex from $125.00 to $142.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their price objective on Paychex from $130.00 to $141.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $130.77.

Paychex Trading Down 0.2 %

Shares of Paychex stock traded down $0.24 on Friday, reaching $139.09. 1,182,361 shares of the company's stock were exchanged, compared to its average volume of 1,324,736. The firm's 50-day moving average is $136.31 and its two-hundred day moving average is $127.43. The company has a market capitalization of $50.06 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 3.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. Paychex, Inc. has a 52 week low of $108.58 and a 52 week high of $144.17.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings results 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. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same period last year, the company posted $1.14 earnings per share. The business's quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts predict that Paychex, Inc. will post 4.98 EPS for the current fiscal year.

Paychex Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Thursday, November 7th. Paychex's dividend payout ratio (DPR) is currently 83.58%.

Insiders Place Their Bets

In other news, Director David J. S. Flaschen sold 14,434 shares of the business's 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 sale, the director now owns 5,383 shares in the company, valued at $674,005.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director David J. S. Flaschen sold 14,434 shares of Paychex stock in a transaction dated Monday, August 5th. The shares were 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 $674,005.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael E. Gioja sold 14,731 shares of the business's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $139.18, for a total transaction of $2,050,260.58. Following the sale, the vice president now directly owns 14,515 shares of the company's stock, valued at approximately $2,020,197.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,608 shares of company stock worth $9,384,512. Corporate insiders own 11.40% of the company's stock.

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.