Northwest Quadrant Wealth Management LLC grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,948 shares of the business services provider’s stock after acquiring an additional 25 shares during the period. Northwest Quadrant Wealth Management LLC’s holdings in Paychex were worth $217,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Paychex by 2,782.5% during the 1st quarter. BlackRock Inc. now owns 25,717,903 shares of the business services provider’s stock worth $1,514,786,000 after buying an additional 24,825,695 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Paychex by 23.8% during the 1st quarter. Ameriprise Financial Inc. now owns 4,237,537 shares of the business services provider’s stock worth $248,742,000 after buying an additional 813,930 shares during the period. Mawer Investment Management Ltd. bought a new stake in shares of Paychex during the 2nd quarter worth $45,209,000. JPMorgan Chase & Co. boosted its holdings in shares of Paychex by 314.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,001,929 shares of the business services provider’s stock worth $59,014,000 after buying an additional 759,973 shares during the period. Finally, Morgan Stanley raised its stake in Paychex by 27.5% during the 1st quarter. Morgan Stanley now owns 2,786,888 shares of the business services provider’s stock valued at $164,149,000 after purchasing an additional 601,496 shares during the last quarter. 67.33% of the stock is owned by institutional investors.
In related news, VP Laurie L. Zaucha sold 2,884 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $57.39, for a total transaction of $165,512.76. Following the transaction, the vice president now directly owns 32,906 shares of the company’s stock, valued at approximately $1,888,475.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael E. Gioja sold 7,343 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $57.40, for a total value of $421,488.20. Following the transaction, the insider now directly owns 55,632 shares in the company, valued at $3,193,276.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,497 shares of company stock worth $5,300,889. Insiders own 11.60% of the company’s stock.
Paychex, Inc. (NASDAQ PAYX) traded up 0.6162% during midday trading on Friday, hitting $57.8644. 838,853 shares of the stock traded hands. Paychex, Inc. has a 12-month low of $52.78 and a 12-month high of $63.03. The stock has a market capitalization of $20.80 billion, a PE ratio of 25.7175 and a beta of 0.96. The firm’s 50 day moving average is $56.43 and its 200-day moving average is $58.49.
Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, June 28th. The business services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. Paychex had a return on equity of 42.48% and a net margin of 25.93%. The business had revenue of $799.00 million during the quarter, compared to the consensus estimate of $797.70 million. During the same quarter last year, the company earned $0.49 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that Paychex, Inc. will post $2.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Tuesday, August 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.48%. This is a boost from Paychex’s previous quarterly dividend of $0.46. Paychex’s dividend payout ratio (DPR) is presently 88.50%.
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Several research firms recently commented on PAYX. BMO Capital Markets reiterated a “hold” rating and set a $60.00 target price on shares of Paychex in a research note on Thursday, June 29th. BidaskClub upgraded shares of Paychex from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) cut shares of Paychex from a “buy” rating to a “neutral” rating and cut their target price for the company from $68.00 to $64.00 in a research note on Tuesday, June 20th. J P Morgan Chase & Co restated a “neutral” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Paychex in a research note on Friday, June 30th. Finally, William Blair cut shares of Paychex from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. Paychex has an average rating of “Hold” and an average price target of $59.28.
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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