Kolinsky Wealth Management LLC Buys 299 Shares of Paychex, Inc. (NASDAQ:PAYX)

Kolinsky Wealth Management LLC raised its position in shares of Paychex, Inc. (NASDAQ:PAYX) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,386 shares of the business services provider’s stock after acquiring an additional 299 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Paychex were worth $755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Paychex in the fourth quarter worth approximately $184,216,000. Northern Trust Corp increased its position in Paychex by 16.9% during the fourth quarter. Northern Trust Corp now owns 4,807,554 shares of the business services provider’s stock valued at $674,115,000 after acquiring an additional 694,651 shares during the last quarter. Amundi increased its position in Paychex by 77.9% during the fourth quarter. Amundi now owns 1,534,145 shares of the business services provider’s stock valued at $215,164,000 after acquiring an additional 672,010 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Paychex by 86.5% in the 4th quarter. Schroder Investment Management Group now owns 1,355,713 shares of the business services provider’s stock worth $189,746,000 after purchasing an additional 628,912 shares during the period. Finally, Proficio Capital Partners LLC grew its position in Paychex by 30,382.8% during the fourth quarter. Proficio Capital Partners LLC now owns 568,809 shares of the business services provider’s stock valued at $79,758,000 after buying an additional 566,943 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

Insider Buying and Selling at Paychex

In related news, Director Joseph M. Velli sold 3,650 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total transaction of $544,762.50. Following the sale, the director now owns 78,455 shares of the company’s stock, valued at $11,709,408.75. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.40% of the stock is currently owned by insiders.

Paychex Trading Down 0.3%

NASDAQ PAYX opened at $157.67 on Wednesday. Paychex, Inc. has a one year low of $115.40 and a one year high of $158.37. The firm has a market cap of $56.79 billion, a PE ratio of 33.19, a P/E/G ratio of 4.10 and a beta of 0.91. The firm’s fifty day moving average is $147.80 and its two-hundred day moving average is $145.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 1.39.

Paychex (NASDAQ:PAYX) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS 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 company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the firm earned $1.38 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Analysts expect that Paychex, Inc. will post 4.99 earnings per share for the current year.

Paychex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, May 12th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, May 12th. This is a positive change from Paychex’s previous quarterly dividend of $0.98. Paychex’s dividend payout ratio (DPR) is 90.00%.

Analyst Upgrades and Downgrades

PAYX has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of Paychex from $137.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Cfra Research raised Paychex to a “hold” rating in a research report on Thursday, March 27th. Citigroup raised their price target on Paychex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. UBS Group boosted their price objective on shares of Paychex from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus increased their target price on shares of Paychex from $141.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $141.00.

About Paychex

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.