Paychex, Inc. (NASDAQ:PAYX) Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 106,371 shares of the business services provider’s stock after acquiring an additional 4,694 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Paychex were worth $13,062,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new stake in Paychex in the first quarter worth about $31,000. Chilton Capital Management LLC acquired a new stake in shares of Paychex during the first quarter worth about $31,000. Clear Investment Research LLC lifted its holdings in shares of Paychex by 55.8% during the fourth quarter. Clear Investment Research LLC now owns 307 shares of the business services provider’s stock worth $37,000 after purchasing an additional 110 shares during the period. Tidemark LLC acquired a new stake in shares of Paychex during the fourth quarter worth about $40,000. Finally, Criterion Capital Advisors LLC acquired a new position in Paychex in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

Paychex Trading Up 0.6 %

Paychex stock traded up $0.73 during midday trading on Tuesday, reaching $123.71. The stock had a trading volume of 1,807,452 shares, compared to its average volume of 1,858,299. Paychex, Inc. has a twelve month low of $106.27 and a twelve month high of $129.70. The stock has a market capitalization of $44.55 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 3.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50-day simple moving average is $121.95 and its 200 day simple moving average is $121.69.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 26th. The business services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Paychex had a return on equity of 46.63% and a net margin of 32.03%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 8th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, August 8th. Paychex’s payout ratio is currently 83.94%.

Insider Activity at Paychex

In other Paychex news, Chairman Martin Mucci sold 101,490 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $117.27, for a total transaction of $11,901,732.30. Following the transaction, the chairman now owns 437,345 shares in the company, valued at $51,287,448.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Martin Mucci sold 101,490 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $117.27, for a total value of $11,901,732.30. Following the transaction, the chairman now owns 437,345 shares in the company, valued at $51,287,448.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David J. S. Flaschen sold 19,709 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $124.55, for a total value of $2,454,755.95. Following the completion of the transaction, the director now owns 5,383 shares in the company, valued at approximately $670,452.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,869 shares of company stock worth $15,870,933. 11.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on PAYX shares. Morgan Stanley cut their price objective on Paychex from $125.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. TD Cowen dropped their price target on Paychex from $122.00 to $121.00 and set a “hold” rating for the company in a research report on Wednesday, April 3rd. Robert W. Baird lowered their price objective on Paychex from $126.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Barclays decreased their target price on Paychex from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Monday, July 1st. Finally, Evercore ISI restated an “in-line” rating and set a $118.00 price target on shares of Paychex in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.46.

About Paychex

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, 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.