Capital Investment Advisory Services LLC Purchases New Stake in Paychex, Inc. (PAYX)

Share on StockTwits

Capital Investment Advisory Services LLC purchased a new position in shares of Paychex, Inc. (NASDAQ:PAYX) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,192 shares of the business services provider’s stock, valued at approximately $78,000.

A number of other institutional investors also recently added to or reduced their stakes in PAYX. Parkside Financial Bank & Trust grew its position in shares of Paychex by 12.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,376 shares of the business services provider’s stock valued at $89,000 after purchasing an additional 154 shares during the period. CWM LLC grew its position in shares of Paychex by 14.4% in the fourth quarter. CWM LLC now owns 1,376 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 173 shares during the period. Buckingham Capital Management Inc. grew its position in shares of Paychex by 1.0% in the third quarter. Buckingham Capital Management Inc. now owns 18,175 shares of the business services provider’s stock valued at $1,339,000 after purchasing an additional 183 shares during the period. Saratoga Research & Investment Management grew its position in shares of Paychex by 2.5% in the fourth quarter. Saratoga Research & Investment Management now owns 7,630 shares of the business services provider’s stock valued at $497,000 after purchasing an additional 185 shares during the period. Finally, Physicians Financial Services Inc. grew its position in shares of Paychex by 4.9% in the fourth quarter. Physicians Financial Services Inc. now owns 4,252 shares of the business services provider’s stock valued at $277,000 after purchasing an additional 200 shares during the period. 71.23% of the stock is owned by institutional investors.

A number of brokerages have recently commented on PAYX. BidaskClub raised Paychex from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 22nd. Barclays started coverage on Paychex in a research report on Wednesday, November 14th. They set an “equal weight” rating and a $70.00 price target for the company. Bank of America raised Paychex from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $64.00 to $68.00 in a research report on Tuesday, January 8th. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Paychex in a research report on Thursday, December 20th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $72.60.

In other Paychex news, CEO Martin Mucci sold 50,000 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $72.32, for a total transaction of $3,616,000.00. Following the transaction, the chief executive officer now owns 349,929 shares in the company, valued at $25,306,865.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Doody sold 11,489 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $74.94, for a total value of $860,985.66. Following the transaction, the director now owns 30,128 shares in the company, valued at approximately $2,257,792.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,244 shares of company stock worth $6,427,583. 11.80% of the stock is currently owned by insiders.

PAYX stock opened at $75.25 on Thursday. Paychex, Inc. has a 12-month low of $59.36 and a 12-month high of $76.02. The stock has a market cap of $26.87 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.97 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Wednesday, December 19th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $858.90 million during the quarter, compared to the consensus estimate of $860.61 million. Paychex had a return on equity of 41.61% and a net margin of 27.99%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. As a group, equities research analysts forecast that Paychex, Inc. will post 2.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Thursday, January 31st. Paychex’s dividend payout ratio is presently 87.84%.

ILLEGAL ACTIVITY WARNING: This news story was published by Equities Focus and is the sole property of of Equities Focus. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.equitiesfocus.com/2019/02/14/capital-investment-advisory-services-llc-purchases-new-stake-in-paychex-inc-payx.html.

Paychex Profile

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

Featured Article: How To Calculate Debt-to-Equity Ratio

Want to see what other hedge funds are holding PAYX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX).

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply