Donaldson Capital Management LLC boosted its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 417,276 shares of the business services provider's stock after acquiring an additional 5,078 shares during the quarter. Paychex accounts for about 2.2% of Donaldson Capital Management LLC's investment portfolio, making the stock its 18th largest position. Donaldson Capital Management LLC owned 0.12% of Paychex worth $55,994,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. 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 in the last quarter. ESL Trust Services LLC bought a new position in shares of Paychex during the 1st quarter valued at about $31,000. Fortitude Family Office LLC raised its holdings in shares of Paychex by 42.0% during the 3rd quarter. Fortitude Family Office LLC now owns 250 shares of the business services provider's stock valued at $34,000 after buying an additional 74 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in Paychex in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.47% of the company's stock.
Paychex Trading Up 0.4 %
Shares of PAYX traded up $0.59 during trading hours on Monday, reaching $139.68. 1,031,088 shares of the company traded hands, compared to its average volume of 1,779,946. Paychex, Inc. has a 12 month low of $109.98 and a 12 month high of $144.17. 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 company's fifty day moving average price is $136.50 and its two-hundred day moving average price is $127.64. The company has a market capitalization of $50.27 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 3.83 and a beta of 0.99.
Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. Paychex had a return on equity of 45.97% and a net margin of 31.98%. The business 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 firm posted $1.14 EPS. The business's revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Paychex, Inc. will post 4.98 earnings per share for the current fiscal year.
Paychex Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, November 7th. Paychex's dividend payout ratio is currently 83.58%.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Royal Bank of Canada increased their price target 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. Morgan Stanley increased their target price on shares of Paychex from $122.00 to $133.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. TD Cowen boosted their price target 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. Stifel Nicolaus raised their price objective on Paychex from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. Finally, Barclays boosted their target price on Paychex from $118.00 to $132.00 and gave the company an "equal weight" rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $130.77.
View Our Latest Analysis on PAYX
Insider Transactions at Paychex
In related news, 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 transaction of $1,852,685.25. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Paychex news, 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 sale, the chief financial officer now directly owns 17,362 shares of the company's stock, valued at approximately $2,471,480.70. 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 can be accessed through this link. Also, 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 sale, the vice president now directly owns 14,515 shares in the company, valued at approximately $2,018,020.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,174 shares of company stock valued at $7,577,231 in the last three months. 11.40% of the stock is currently owned by company insiders.
About Paychex
(
Free Report)
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.
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