U.S. Capital Wealth Advisors LLC Has $11.87 Million Stake in Paychex, Inc. (NASDAQ:PAYX)

U.S. Capital Wealth Advisors LLC increased its stake in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,911 shares of the business services provider's stock after purchasing an additional 2,127 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Paychex were worth $11,866,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Pacific Point Advisors LLC lifted its stake in shares of Paychex by 9.2% in the 1st quarter. Pacific Point Advisors LLC now owns 9,908 shares of the business services provider's stock valued at $1,529,000 after purchasing an additional 835 shares during the last quarter. Capital Advisors Inc. OK raised its holdings in Paychex by 0.5% in the 1st quarter. Capital Advisors Inc. OK now owns 276,998 shares of the business services provider's stock worth $42,735,000 after acquiring an additional 1,298 shares during the period. Drake & Associates LLC lifted its position in Paychex by 28.3% during the 1st quarter. Drake & Associates LLC now owns 12,276 shares of the business services provider's stock worth $1,894,000 after acquiring an additional 2,707 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in Paychex by 200.3% during the first quarter. Penserra Capital Management LLC now owns 6,970 shares of the business services provider's stock valued at $1,074,000 after acquiring an additional 4,649 shares during the period. Finally, Crew Capital Management Ltd. grew its position in shares of Paychex by 2.2% in the first quarter. Crew Capital Management Ltd. now owns 6,021 shares of the business services provider's stock valued at $929,000 after purchasing an additional 128 shares during the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Paychex

In other news, Director Joseph M. Velli sold 3,650 shares of the firm'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 transaction of $544,762.50. Following the completion of the sale, the director owned 78,455 shares of the company's stock, valued at approximately $11,709,408.75. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on Paychex from $156.00 to $152.00 and set a "hold" rating for the company in a research note on Thursday, June 26th. Jefferies Financial Group set a $140.00 target price on shares of Paychex and gave the stock a "hold" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on shares of Paychex from $140.00 to $148.00 and gave the company an "underweight" rating in a report on Wednesday, June 18th. Royal Bank Of Canada set a $165.00 price objective on shares of Paychex and gave the stock a "sector perform" rating in a report on Tuesday, June 24th. Finally, UBS Group reduced their target price on shares of Paychex from $155.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $149.11.

Paychex Price Performance

NASDAQ PAYX traded down $0.56 on Tuesday, reaching $145.11. The company's stock had a trading volume of 978,714 shares, compared to its average volume of 1,962,290. The firm has a market cap of $52.27 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 3.29 and a beta of 0.88. The business has a 50-day moving average price of $152.13 and a 200 day moving average price of $148.15. Paychex, Inc. has a 52 week low of $115.40 and a 52 week high of $161.24. The company has a current ratio of 1.28, a quick ratio of 1.39 and a debt-to-equity ratio of 1.10.

Paychex (NASDAQ:PAYX - Get Free Report) last posted its earnings results on Wednesday, June 25th. The business services provider reported $1.19 earnings per share for the quarter, meeting analysts' consensus estimates of $1.19. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.38 billion. Paychex had a net margin of 29.75% and a return on equity of 45.01%. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Sell-side analysts expect that Paychex, Inc. will post 4.99 EPS for the current year.

Paychex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 12th were issued a dividend of $1.08 per share. This is a positive change from Paychex's previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, May 12th. This represents a $4.32 annualized dividend and a dividend yield of 2.98%. Paychex's dividend payout ratio (DPR) is presently 94.53%.

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.