GF Fund Management CO. LTD. Makes New $9.56 Million Investment in Paychex, Inc. (NASDAQ:PAYX)

GF Fund Management CO. LTD. purchased a new position in Paychex, Inc. (NASDAQ:PAYX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 68,209 shares of the business services provider's stock, valued at approximately $9,564,000.

A number of other large investors also recently added to or reduced their stakes in the business. Monument Capital Management boosted its stake in Paychex by 4.4% during the 4th quarter. Monument Capital Management now owns 1,714 shares of the business services provider's stock valued at $240,000 after purchasing an additional 72 shares in the last quarter. Mutual Advisors LLC grew its position in Paychex by 2.6% during the fourth quarter. Mutual Advisors LLC now owns 2,881 shares of the business services provider's stock worth $423,000 after buying an additional 73 shares in the last quarter. Emerald Advisors LLC boosted its holdings in shares of Paychex by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 3,017 shares of the business services provider's stock worth $423,000 after acquiring an additional 74 shares in the last quarter. Weaver Capital Management LLC lifted its holdings in Paychex by 3.7% during the 4th quarter. Weaver Capital Management LLC now owns 2,121 shares of the business services provider's stock worth $297,000 after buying an additional 75 shares in the last quarter. Finally, Adero Partners LLC increased its position in shares of Paychex by 3.2% in the 4th quarter. Adero Partners LLC now owns 2,391 shares of the business services provider's stock valued at $335,000 after buying an additional 75 shares in the last quarter. 83.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 shares were sold at an average price of $149.25, for a total value of $544,762.50. Following the completion of the sale, the director now directly owns 78,455 shares in the company, valued at approximately $11,709,408.75. The trade was a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.40% of the stock is currently owned by insiders.

Paychex Stock Performance

Shares of PAYX stock traded up $0.28 during trading hours on Thursday, hitting $157.27. The company's stock had a trading volume of 566,030 shares, compared to its average volume of 1,916,174. The company has a 50 day moving average of $149.09 and a 200 day moving average of $146.46. The stock has a market cap of $56.65 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 4.10 and a beta of 0.91. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. Paychex, Inc. has a 12-month low of $115.40 and a 12-month high of $159.75.

Paychex (NASDAQ:PAYX - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.01. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. Paychex had a net margin of 32.02% and a return on equity of 45.28%. The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. On average, sell-side analysts forecast that Paychex, Inc. will post 4.99 EPS for the current fiscal year.

Paychex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, May 12th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Paychex's previous quarterly dividend of $0.98. The ex-dividend date is Monday, May 12th. Paychex's dividend payout ratio (DPR) is 90.00%.

Wall Street Analysts Forecast Growth

PAYX has been the subject of several recent analyst reports. Cfra Research upgraded shares of Paychex to a "hold" rating in a research note on Thursday, March 27th. Morgan Stanley increased their price objective on Paychex from $137.00 to $142.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Jefferies Financial Group reissued a "hold" rating on shares of Paychex in a research report on Friday, May 23rd. UBS Group lifted their target price on shares of Paychex from $152.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, Barclays lifted their price objective on shares of Paychex from $140.00 to $155.00 and gave the company an "equal weight" rating in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat, Paychex currently has an average rating of "Hold" and an average price target of $141.00.

Paychex Company Profile

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.