16,791 Shares in Paychex, Inc. (NASDAQ:PAYX) Acquired by Radnor Capital Management LLC

Radnor Capital Management LLC acquired a new position in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,791 shares of the business services provider's stock, valued at approximately $2,253,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Catalina Capital Group LLC grew its position in Paychex by 8.4% during the 3rd quarter. Catalina Capital Group LLC now owns 2,268 shares of the business services provider's stock worth $304,000 after purchasing an additional 175 shares during the last quarter. Hardman Johnston Global Advisors LLC purchased a new stake in Paychex during the 3rd quarter worth approximately $215,000. Avidian Wealth Enterprises LLC lifted its stake in Paychex by 8.7% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 6,156 shares of the business services provider's stock valued at $826,000 after acquiring an additional 491 shares during the period. Balentine LLC acquired a new stake in Paychex during the 3rd quarter valued at approximately $467,000. Finally, Cornerstone Capital Inc. acquired a new stake in Paychex during the 3rd quarter valued at approximately $220,000. Hedge funds and other institutional investors own 83.47% of the company's stock.

Insider Buying and Selling

In related news, VP Michael E. Gioja sold 14,731 shares of Paychex stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $139.18, for a total value of $2,050,260.58. Following the completion of the transaction, the vice president now owns 14,515 shares in the company, valued at $2,020,197.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Robert L. Schrader sold 13,015 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 17,362 shares in the company, valued at approximately $2,471,480.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael E. Gioja sold 14,731 shares of the business's stock in a transaction that occurred on 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 owns 14,515 shares of the company's stock, valued at $2,020,197.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,174 shares of company stock worth $7,577,231 over the last 90 days. 11.40% of the stock is owned by insiders.

Paychex Price Performance

Shares of Paychex stock traded up $8.83 during trading hours on Wednesday, reaching $148.59. 3,444,470 shares of the company's stock were exchanged, compared to its average volume of 1,789,215. Paychex, Inc. has a 1 year low of $110.82 and a 1 year high of $149.26. The company has a market capitalization of $53.48 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 3.84 and a beta of 0.99. The business has a fifty day moving average of $136.69 and a two-hundred day moving average of $127.78. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

Paychex (NASDAQ:PAYX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 1st. The business services provider reported $1.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Paychex's quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts predict that Paychex, Inc. will post 4.98 earnings per share 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 $0.98 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.64%. Paychex's dividend payout ratio is currently 83.58%.

Wall Street Analysts Forecast Growth

PAYX has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Paychex from $122.00 to $133.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Paychex from $120.00 to $128.00 and gave the company an "underweight" rating in a research note on Tuesday, August 20th. UBS Group lifted their price objective on shares of Paychex from $125.00 to $142.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Barclays lifted their price objective on shares of Paychex from $118.00 to $132.00 and gave the company an "equal weight" rating in a research note on Monday, September 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Paychex from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.