Nicholson Wealth Management Group LLC Acquires New Holdings in Paychex, Inc. (NASDAQ:PAYX)

Nicholson Wealth Management Group LLC bought a new position in Paychex, Inc. (NASDAQ:PAYX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,604 shares of the business services provider’s stock, valued at approximately $886,000.

Several other large investors have also recently bought and sold shares of the company. CVA Family Office LLC grew its stake in shares of Paychex by 5.6% in the 3rd quarter. CVA Family Office LLC now owns 1,388 shares of the business services provider’s stock worth $186,000 after buying an additional 74 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in shares of Paychex by 0.8% in the second quarter. Daymark Wealth Partners LLC now owns 9,847 shares of the business services provider’s stock worth $1,167,000 after acquiring an additional 82 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Paychex by 1.2% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 7,362 shares of the business services provider’s stock valued at $873,000 after acquiring an additional 85 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Paychex by 3.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,543 shares of the business services provider’s stock worth $312,000 after purchasing an additional 92 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its position in shares of Paychex by 3.2% in the 1st quarter. KCM Investment Advisors LLC now owns 3,190 shares of the business services provider’s stock worth $392,000 after purchasing an additional 98 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PAYX. Royal Bank of Canada increased their price objective on shares of Paychex from $130.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. UBS Group boosted their price objective on shares of Paychex from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their target price on Paychex from $120.00 to $128.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Bank of America boosted their price target on Paychex from $111.00 to $113.00 and gave the stock an “underperform” rating in a research note on Thursday, June 27th. Finally, Stifel Nicolaus increased their price objective on Paychex from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $130.77.

Paychex Price Performance

NASDAQ PAYX opened at $141.68 on Friday. The company has a 50-day moving average price of $134.36 and a 200-day moving average price of $126.60. Paychex, Inc. has a 52 week low of $106.27 and a 52 week high of $144.17. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $50.99 billion, a P/E ratio of 30.21, a PEG ratio of 3.88 and a beta of 1.00.

Paychex (NASDAQ:PAYX) last announced its earnings results on Tuesday, October 1st. The business services provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Paychex had a net margin of 31.98% and a return on equity of 45.97%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Paychex, Inc. will post 4.98 earnings per share for the current year.

Paychex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 7th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.92 dividend on an annualized basis and a yield of 2.77%. Paychex’s dividend payout ratio is currently 83.58%.

Insider Activity at Paychex

In other Paychex news, CFO Robert L. Schrader sold 13,015 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total value of $1,852,685.25. Following the completion of the sale, the chief financial officer now owns 17,362 shares in the company, valued at $2,471,480.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Robert L. Schrader sold 13,015 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $142.35, for a total transaction of $1,852,685.25. Following the completion of the transaction, the chief financial officer now directly owns 17,362 shares in the company, valued at approximately $2,471,480.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David J. S. Flaschen sold 14,434 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $125.21, for a total transaction of $1,807,281.14. Following the completion of the sale, the director now directly owns 5,383 shares of the company’s stock, valued at $674,005.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,608 shares of company stock worth $9,384,512. Corporate insiders own 11.40% of the company’s stock.

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.