Candlestick Capital Management LP Invests $13.51 Million in Paychex, Inc. (NASDAQ:PAYX)

Candlestick Capital Management LP acquired a new stake in Paychex, Inc. (NASDAQ:PAYX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 96,313 shares of the business services provider’s stock, valued at approximately $13,505,000.

Other large investors have also modified their holdings of the company. Monument Capital Management raised its stake in shares of Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider’s stock worth $240,000 after purchasing an additional 72 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of Paychex by 2.6% during the 4th quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider’s stock worth $423,000 after purchasing an additional 73 shares in the last quarter. Emerald Advisors LLC raised its stake in shares of Paychex by 2.5% during the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider’s stock worth $423,000 after purchasing an additional 74 shares in the last quarter. Weaver Capital Management LLC raised its stake in shares of Paychex by 3.7% during the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider’s stock worth $297,000 after purchasing an additional 75 shares in the last quarter. Finally, Adero Partners LLC raised its stake in shares of Paychex by 3.2% during the 4th quarter. Adero Partners LLC now owns 2,391 shares of the business services provider’s stock worth $335,000 after purchasing an additional 75 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.

Paychex Stock Performance

Paychex stock opened at $143.21 on Monday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 1 year low of $115.40 and a 1 year high of $158.37. The company has a market cap of $51.58 billion, a PE ratio of 30.15, a PEG ratio of 4.10 and a beta of 0.88. The company’s 50-day moving average is $147.46 and its two-hundred day moving average is $144.83.

Paychex (NASDAQ:PAYX) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm earned $1.38 EPS. Paychex’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Paychex, Inc. will post 4.99 earnings per share for the current year.

Insider Buying and Selling at Paychex

In other Paychex news, Director Joseph M. Velli sold 3,650 shares of Paychex stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $149.25, for a total value of $544,762.50. Following the transaction, the director now owns 78,455 shares of the company’s stock, valued at approximately $11,709,408.75. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.40% of the company’s stock.

Analysts Set New Price Targets

PAYX has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on Paychex from $137.00 to $142.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Stifel Nicolaus raised their target price on Paychex from $141.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, March 27th. Citigroup raised their price objective on Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Barclays upped their target price on shares of Paychex from $140.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, March 31st. Finally, Cfra Research raised shares of Paychex to a “hold” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $141.00.

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.