U.S. Capital Wealth Advisors LLC Acquires 2,127 Shares of Paychex, Inc. (NASDAQ:PAYX)

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

Other hedge funds have also recently bought and sold shares of the company. 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 period. Capital Advisors Inc. OK lifted its stake in shares of Paychex by 0.5% in the 1st quarter. Capital Advisors Inc. OK now owns 276,998 shares of the business services provider's stock valued at $42,735,000 after purchasing an additional 1,298 shares during the period. Drake & Associates LLC lifted its stake in shares of Paychex by 28.3% in the 1st quarter. Drake & Associates LLC now owns 12,276 shares of the business services provider's stock valued at $1,894,000 after purchasing an additional 2,707 shares during the period. Penserra Capital Management LLC increased its position in shares of Paychex by 200.3% in the 1st quarter. Penserra Capital Management LLC now owns 6,970 shares of the business services provider's stock valued at $1,074,000 after buying an additional 4,649 shares in the last quarter. Finally, Crew Capital Management Ltd. increased its position in shares of Paychex by 2.2% in the 1st quarter. Crew Capital Management Ltd. now owns 6,021 shares of the business services provider's stock valued at $929,000 after buying an additional 128 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PAYX. UBS Group lowered their price objective on shares of Paychex from $155.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, June 26th. JPMorgan Chase & Co. upped their price objective on shares of Paychex from $140.00 to $148.00 and gave the company an "underweight" rating in a research report on Wednesday, June 18th. Barclays set a $155.00 price objective on shares of Paychex and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. Royal Bank Of Canada set a $165.00 price objective on shares of Paychex and gave the company a "sector perform" rating in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group set a $140.00 price objective on shares of Paychex and gave the company a "hold" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $150.20.

Paychex Stock Down 0.4%

PAYX stock traded down $0.63 during trading hours on Thursday, reaching $145.31. 2,792,891 shares of the stock were exchanged, compared to its average volume of 1,979,737. The firm's 50-day moving average is $152.08 and its 200-day moving average is $148.12. The company has a market cap of $52.34 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 3.32 and a beta of 0.88. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.39. Paychex, Inc. has a 12 month low of $115.40 and a 12 month high of $161.24.

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

Paychex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, July 21st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, July 21st. Paychex's payout ratio is 94.53%.

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 dated Tuesday, April 15th. The stock was sold at an average price of $149.25, for a total value of $544,762.50. Following the completion of the transaction, the director owned 78,455 shares in the company, valued at $11,709,408.75. This trade represents a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.40% of the stock is owned by insiders.

Paychex 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.