Prudential Financial Inc. Buys 830 Shares of Paychex, Inc. (PAYX)

Prudential Financial Inc. boosted its stake in shares of Paychex, Inc. (NASDAQ:PAYX) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 441,941 shares of the business services provider’s stock after buying an additional 830 shares during the period. Prudential Financial Inc. owned approximately 0.12% of Paychex worth $26,498,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PAYX. OppenheimerFunds Inc. raised its holdings in Paychex by 7.0% during the 1st quarter. OppenheimerFunds Inc. now owns 5,977 shares of the business services provider’s stock valued at $352,000 after buying an additional 390 shares during the period. Gotham Asset Management LLC raised its holdings in Paychex by 1,446.5% during the 1st quarter. Gotham Asset Management LLC now owns 268,418 shares of the business services provider’s stock valued at $15,810,000 after buying an additional 251,061 shares during the period. AQR Capital Management LLC raised its holdings in Paychex by 0.5% during the 1st quarter. AQR Capital Management LLC now owns 347,097 shares of the business services provider’s stock valued at $20,444,000 after buying an additional 1,767 shares during the period. National Asset Management Inc. raised its holdings in Paychex by 1.6% during the 1st quarter. National Asset Management Inc. now owns 4,437 shares of the business services provider’s stock valued at $262,000 after buying an additional 68 shares during the period. Finally, Paloma Partners Management Co raised its holdings in Paychex by 66.7% during the 1st quarter. Paloma Partners Management Co now owns 54,829 shares of the business services provider’s stock valued at $3,230,000 after buying an additional 21,936 shares during the period. Institutional investors own 67.02% of the company’s stock.

Several analysts recently weighed in on the company. Royal Bank Of Canada restated a “sell” rating and set a $57.00 price target on shares of Paychex in a report on Wednesday. Stifel Nicolaus reiterated a “hold” rating and issued a $61.00 target price on shares of Paychex in a research note on Friday, August 18th. BidaskClub lowered Paychex from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 6th. BMO Capital Markets reiterated a “market perform” rating and issued a $62.00 target price (up previously from $60.00) on shares of Paychex in a research note on Wednesday, October 4th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $64.00 target price on shares of Paychex in a research note on Wednesday, October 4th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Paychex currently has a consensus rating of “Hold” and an average target price of $60.07.

COPYRIGHT VIOLATION WARNING: “Prudential Financial Inc. Buys 830 Shares of Paychex, Inc. (PAYX)” was originally posted by Markets Daily and is the property of of Markets Daily. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.themarketsdaily.com/2017/11/16/prudential-financial-inc-buys-830-shares-of-paychex-inc-payx.html.

In other Paychex news, VP Jennifer R. Vossler sold 11,155 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $63.07, for a total value of $703,545.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Martin Mucci sold 29,786 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $63.17, for a total value of $1,881,581.62. The disclosure for this sale can be found here. In the last three months, insiders sold 94,395 shares of company stock valued at $5,914,383. Corporate insiders own 11.70% of the company’s stock.

Shares of Paychex, Inc. (PAYX) opened at $64.58 on Thursday. Paychex, Inc. has a 12-month low of $54.20 and a 12-month high of $65.81. The firm has a market capitalization of $23,489.35, a PE ratio of 28.80, a P/E/G ratio of 3.54 and a beta of 0.99.

Paychex (NASDAQ:PAYX) last issued its quarterly earnings data on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Paychex had a return on equity of 43.01% and a net margin of 26.01%. The company had revenue of $816.80 million for the quarter, compared to the consensus estimate of $816.34 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. equities analysts predict that Paychex, Inc. will post 2.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.10%. The ex-dividend date was Tuesday, October 31st. Paychex’s dividend payout ratio is presently 87.34%.

Paychex Company 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.

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

Latest News

Leave a Reply