Free Trial

Midwest Professional Planners LTD. Boosts Stake in Paychex, Inc. (NASDAQ:PAYX)

Paychex logo with Computer and Technology background

Midwest Professional Planners LTD. lifted its holdings in Paychex, Inc. (NASDAQ:PAYX - Free Report) by 14.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,182 shares of the business services provider's stock after purchasing an additional 2,228 shares during the period. Midwest Professional Planners LTD.'s holdings in Paychex were worth $2,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Paychex by 26.3% during the 4th quarter. Brighton Jones LLC now owns 5,710 shares of the business services provider's stock valued at $801,000 after purchasing an additional 1,190 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Paychex by 117.4% during the 4th quarter. Proficio Capital Partners LLC now owns 4,057 shares of the business services provider's stock valued at $569,000 after purchasing an additional 2,191 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Paychex during the 4th quarter valued at approximately $1,241,000. Natixis Advisors LLC increased its stake in Paychex by 8.2% during the 4th quarter. Natixis Advisors LLC now owns 108,122 shares of the business services provider's stock valued at $15,161,000 after purchasing an additional 8,152 shares in the last quarter. Finally, one8zero8 LLC acquired a new position in Paychex during the 4th quarter valued at approximately $216,000. Hedge funds and other institutional investors own 83.47% of the company's stock.

Paychex Price Performance

PAYX traded down $3.63 during midday trading on Tuesday, hitting $140.68. 2,034,410 shares of the company traded hands, compared to its average volume of 1,983,457. The company has a current ratio of 1.28, a quick ratio of 1.39 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $50.68 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 3.31 and a beta of 0.88. Paychex, Inc. has a 52-week low of $121.33 and a 52-week high of $161.24. The business has a 50 day simple moving average of $151.82 and a two-hundred day simple moving average of $148.28.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Paychex had a net margin of 29.75% and a return on equity of 45.01%. During the same period last year, the firm posted $1.12 earnings per share. On average, equities analysts forecast that Paychex, Inc. will post 4.99 earnings per share for the current fiscal year.

Paychex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, July 21st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, July 21st. Paychex's payout ratio is 94.53%.

Wall Street Analysts Forecast Growth

PAYX has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $140.00 price target on shares of Paychex and gave the company a "hold" rating in a research note on Thursday, June 26th. Cfra Research upgraded shares of Paychex to a "hold" rating in a research note on Thursday, March 27th. Citigroup set a $158.00 price objective on shares of Paychex and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada set a $165.00 price objective on shares of Paychex and gave the stock a "sector perform" rating in a research note on Tuesday, June 24th. Finally, Stifel Nicolaus dropped their price target on shares of Paychex from $156.00 to $152.00 and set a "hold" rating on the stock in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, Paychex has an average rating of "Hold" and a consensus price target of $150.20.

Check Out Our Latest Research Report on Paychex

Insider Transactions at Paychex

In other news, Chairman Martin Mucci sold 97,526 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $145.17, for a total value of $14,157,849.42. Following the transaction, the chairman directly owned 446,917 shares of the company's stock, valued at approximately $64,878,940.89. This trade represents a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 11.40% of the stock is currently owned by insiders.

About Paychex

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Paychex (NASDAQ:PAYX)

Should You Invest $1,000 in Paychex Right Now?

Before you consider Paychex, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paychex wasn't on the list.

While Paychex currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Time to Cash Out? 5 Stocks to Drop Before Earnings
Watch Before Monday: Stocks to Load Up on Before Earnings
3 Hot Growth Stocks to Watch Right Now!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines