Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 64 Shares of Paychex, Inc. (PAYX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,754 shares of the business services provider’s stock after purchasing an additional 64 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Paychex were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bruderman Asset Management LLC raised its holdings in shares of Paychex by 0.3% during the 1st quarter. Bruderman Asset Management LLC now owns 6,794 shares of the business services provider’s stock valued at $400,000 after purchasing an additional 20 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Paychex by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,685 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 20 shares in the last quarter. Northwest Quadrant Wealth Management LLC raised its holdings in shares of Paychex by 0.6% during the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 3,923 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 24 shares in the last quarter. King Wealth Management Group LLC raised its holdings in shares of Paychex by 0.8% during the 1st quarter. King Wealth Management Group LLC now owns 3,793 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 30 shares in the last quarter. Finally, Washington Trust Bank raised its holdings in shares of Paychex by 0.4% during the 2nd quarter. Washington Trust Bank now owns 7,344 shares of the business services provider’s stock valued at $418,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 67.32% of the company’s stock.

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Shares of Paychex, Inc. (NASDAQ PAYX) opened at 56.90 on Friday. The firm has a 50-day moving average of $56.39 and a 200 day moving average of $58.56. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of 25.29 and a beta of 0.96. Paychex, Inc. has a 52-week low of $52.78 and a 52-week high of $63.03.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Wednesday, June 28th. The business services provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The company had revenue of $799 million for the quarter, compared to analyst estimates of $797.70 million. Paychex had a net margin of 25.93% and a return on equity of 42.48%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. Analysts predict that Paychex, Inc. will post $2.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Tuesday, August 1st were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from Paychex’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 3.51%. Paychex’s dividend payout ratio is presently 88.50%.

A number of research analysts have recently weighed in on PAYX shares. Morgan Stanley upgraded shares of Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 price target on the stock in a report on Wednesday, August 16th. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and set a $61.00 price target on shares of Paychex in a report on Friday, August 18th. BMO Capital Markets restated a “hold” rating and set a $60.00 price target on shares of Paychex in a report on Thursday, June 29th. William Blair downgraded shares of Paychex from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Paychex from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $64.00 in a report on Tuesday, June 20th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. Paychex presently has a consensus rating of “Hold” and a consensus price target of $59.28.

In other news, VP Laurie L. Zaucha sold 2,884 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $57.39, for a total value of $165,512.76. Following the transaction, the vice president now directly owns 32,906 shares of the company’s stock, valued at $1,888,475.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Martin Mucci sold 33,294 shares of the stock in a transaction dated Sunday, July 9th. The shares were sold at an average price of $57.40, for a total transaction of $1,911,075.60. Following the completion of the transaction, the chief executive officer now directly owns 254,618 shares in the company, valued at $14,615,073.20. The disclosure for this sale can be found here. Insiders sold 92,497 shares of company stock worth $5,300,889 over the last three months. Insiders own 11.60% of the company’s stock.

Paychex Profile

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.

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

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