Tectonic Advisors LLC Buys 3,285 Shares of Paychex, Inc. (NASDAQ:PAYX)

Tectonic Advisors LLC lifted its holdings in shares of Paychex, Inc. (NASDAQ:PAYX - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,205 shares of the business services provider's stock after acquiring an additional 3,285 shares during the quarter. Tectonic Advisors LLC's holdings in Paychex were worth $8,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Golden State Equity Partners raised its holdings in shares of Paychex by 0.9% during the first quarter. Golden State Equity Partners now owns 7,623 shares of the business services provider's stock valued at $1,176,000 after acquiring an additional 71 shares in the last quarter. Palumbo Wealth Management LLC grew its stake in Paychex by 2.4% in the first quarter. Palumbo Wealth Management LLC now owns 3,192 shares of the business services provider's stock worth $492,000 after purchasing an additional 74 shares during the period. Asset Dedication LLC grew its stake in Paychex by 12.1% in the first quarter. Asset Dedication LLC now owns 711 shares of the business services provider's stock worth $110,000 after purchasing an additional 77 shares during the period. Ashton Thomas Securities LLC grew its stake in Paychex by 2.5% in the fourth quarter. Ashton Thomas Securities LLC now owns 3,179 shares of the business services provider's stock worth $446,000 after purchasing an additional 78 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its stake in Paychex by 7.6% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,148 shares of the business services provider's stock worth $177,000 after purchasing an additional 81 shares during the period. Institutional investors own 83.47% of the company's stock.

Paychex Stock Performance

PAYX stock traded up $0.17 during trading on Friday, reaching $143.46. The stock had a trading volume of 2,484,781 shares, compared to its average volume of 1,978,742. The stock's 50 day moving average is $151.33 and its two-hundred day moving average is $148.21. 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, Inc. has a 52 week low of $121.33 and a 52 week high of $161.24. The firm has a market cap of $51.68 billion, a PE ratio of 31.39, a PEG ratio of 3.26 and a beta of 0.88.

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

Paychex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, July 21st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, July 21st. Paychex's dividend payout ratio is currently 94.53%.

Insider Activity

In related news, Chairman Martin Mucci sold 97,526 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $145.17, for a total transaction of $14,157,849.42. Following the completion of the sale, the chairman owned 446,917 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John B. Gibson sold 12,370 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $141.92, for a total value of $1,755,550.40. Following the sale, the chief executive officer owned 81,755 shares of the company's stock, valued at $11,602,669.60. This represents a 13.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.40% of the company's stock.

Analyst Ratings Changes

PAYX has been the topic of several recent research reports. Royal Bank Of Canada set a $165.00 price target on Paychex and gave the stock a "sector perform" rating in a research note on Tuesday, June 24th. Citigroup set a $158.00 target price on Paychex and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Jefferies Financial Group set a $140.00 target price on Paychex and gave the stock a "hold" rating in a research note on Thursday, June 26th. Stifel Nicolaus lowered their price target on Paychex from $156.00 to $152.00 and set a "hold" rating on the stock in a report on Thursday, June 26th. Finally, Morgan Stanley lowered their price target on Paychex from $150.00 to $148.00 and set an "equal weight" rating on the stock in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $150.20.

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.